Regulatory Compliance Definition and Examples

Understanding Regulatory Compliance for e-Signing

Ensuring that your e-signatures are legally binding and secure is critical in today's digital age. Regulatory compliance refers to adhering to the laws, guidelines, and specifications relevant to business processes, especially regarding the use of electronic signatures. These regulations vary across different industries and regions, aiming to ensure data security, user authenticity, and the legal validity of e-signed documents.

Why is Regulatory Compliance Important for E-Signing?

  1. Legality: Ensuring your electronic signatures are recognized and enforceable by law.
  2. Security: Protecting sensitive information against fraud and unauthorized access.
  3. Trust: Building confidence among clients, partners, and stakeholders by adhering to recognized standards.
  4. Efficiency: Streamlining operations while maintaining compliance can lead to faster transaction times and reduced costs.

Key Regulatory Standards for E-Signing

  1. eIDAS (EU Regulation 910/2014): This regulation mandates standards for electronic identification and trust services in the European Union, ensuring that e-signatures are valid and can be used in legal proceedings.

  2. ESIGN Act and UETA (USA): These frameworks provide guidelines for the validity of electronic records and e-signatures in the United States, ensuring that electronically signed documents are legally equivalent to paper signatures.

  3. PIPEDA (Canada): This act governs how private sector organizations collect, use, and disclose personal information in the course of commercial business, including provisions for secure and compliant e-signing practices.

Examples of Regulatory Compliance in E-Signing

  • Financial Services: Institutions must comply with regulations like the Sarbanes-Oxley Act (SOX) and Anti-Money Laundering (AML) regulations to prevent fraud and ensure the integrity of signed documents.

  • Healthcare: Compliance with regulations such as the Health Insurance Portability and Accountability Act (HIPAA) requires secure e-signatures to protect patient information.

  • Legal Services: Lawyers must ensure that documents are signed in compliance with local and international laws to uphold their validity in court.

GoodSign makes it easy to stay compliant with all relevant regulations by providing secure, legally binding e-signature solutions without the need for costly subscriptions. Every envelope only costs $1.50 per send, allowing you to pay as you go without worrying about hidden fees or restricted features.

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