Financial Crime World

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Compliance with Financial Regulations on the Rise in Canada Amid Global Reforms

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As the world grapples with increased scrutiny from investors and stakeholders demanding transparency and accountability, Canadian businesses are feeling the heat. The past decade has seen a surge in regulatory reforms, both domestically and globally, which have far-reaching implications for how organizations operate and report.

Regulatory Pressures Mounting

Industry insiders report that regulators are placing greater emphasis on corporate governance, driven by mounting pressure for expanded environmental, social, and governance (ESG) reporting. The growing digital economy has also spawned new challenges in data privacy and cybersecurity regulations, as well as the global tax landscape.

AI Regulation: A Major Obstacle to Success

A recent survey conducted by KPMG found that 77% of Canadian CEOs believe a lack of AI regulation will be a major obstacle to success for their organizations.

Expert Insights on Regulatory Compliance

Industry experts agree that the increased threat landscape has compelled governing bodies to implement new regulatory policies and compliance frameworks aimed at promoting transparent and ethical business practices that safeguard stakeholders. “We’re seeing a significant shift in the way businesses operate, with regulators cracking down on non-compliance,” said [name], a leading expert in financial regulations.

To help Canadian organizations navigate this complex landscape, KPMG Canada offers teams of experienced professionals who provide guidance on industry-specific regulatory and compliance issues. Whether operating locally or globally, these experts can ensure that businesses meet relevant international, local, and industry-specific regulatory requirements.

Key Takeaways

  • Regulators are prioritizing corporate governance and ESG reporting
  • AI regulation is a growing concern for Canadian CEOs
  • Increased threat landscape driving new regulatory policies and compliance frameworks
  • KPMG Canada offers expert guidance on industry-specific regulatory and compliance issues