Section 11.103 Non-compliance Consequences

Question 1

Consequences of non-compliance include

Fines

Answer 1

Monetary penalties imposed by regulatory bodies

Question 2

Consequences of non-compliance include

Sanctions

Answer 2

Strict measures by regulatory bodies to enforce compliance

● Range from restrictions to bans

Question 3

Consequences of non-compliance include

Reputational Damage

Answer 3

Negative impact on a company’s reputation

● Range from restrictions to bans
● Significant and long-lasting in the age of social media

Question 4

Consequences of non-compliance include

Loss of License

Answer 4

Loss of the right to operate, relevant in regulated industries

Question 5

Consequences of non-compliance include

Contractual Impacts

Answer 5

Breach of contracts due to non-compliance with laws and regulations

● Can lead to legal disputes, financial penalties, or contract termination

Question 6

To avoid fines

Companies should prioritise compliance by

3 points

Answer 6

■ Understanding and adhering to relevant laws and regulations

■ Implementing robust cybersecurity measures

■ Regularly reviewing and updating compliance programs