Maintaining your annual compliance obligations is simply part of doing business in our industry. Unfortunately, it can be a time-consuming and unproductive part of doing business if you are left to complete the processes manually and don't have the right support from your carriers.
What's more, the regulatory environment is changing continually, leaving you to monitor and stay ahead of changing compliance obligations or risk non-compliance, which can threaten your business and that of your partners.
In some recent industry-related headlines, you've seen examples of businesses (and business leaders) suffering greatly from a failure to prioritize compliance. While these events have been about much more than just missing compliance deadlines or inaccurate data entry, they show how compliance missteps can seriously derail people and companies. In addition, the aftermath will likely be even tighter compliance regulations going forward, as evidenced by the most recent DOL ruling.
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