There has been a continued growth in consumer driven regulatory change from the “sugar tax”, taxes on single use plastics, to GDPR data protection. The environment and consumer protection remain big themes, and impacted businesses are very focussed on these topics. This looks set to keep regulatory compliance complexity and uncertainty front and centre in 2019.
While compliance functions will shoulder most of the risk burden for new regulations, business operations and internal audit will remain key lines of defence and will need to work collaboratively to ensure that everything is on track for key deadlines.
Brexit concerns continue with the impact of potential outcomes affecting process placement decisions and supplier risk management activities, among others.