Regulatory compliance refers to the process of ensuring that an organization or individual adheres to rules, regulations, laws, and standards set forth by regulatory bodies. This can include various industries such as finance, healthcare, environmental protection, and data privacy. Compliance typically involves policies, procedures, and controls to ensure that organizations are operating within the legal and ethical boundaries. Failure to comply with regulations can result in fines, penalties, legal action, and damage to the reputation of the organization. Compliance management is an essential aspect of governance and risk management for organizations to operate effectively and responsibly.