What recent government regulations have helped or hindered a firm’s ability to conduct its normal course of business, especially in the area of reporting requirements? Justify your answer. Start reviewing and responding to at least two of your classmates' postings as early in the week as possible. Participate in the discussion by asking a question, providing a statement of clarification, providing a point of view with a rationale, challenging an aspect of the discussion, or indicating a relationship between one or more lines of reasoning in the discussion.
Sample Solution
One recent government regulation that has had an impact on business activities is the implementation of GDPR (General Data Protection Regulation) in the European Union. This legislation aims to increase data protection for individuals by requiring companies to be more transparent about how they use personal data and granting greater control over its access and storage. For businesses, this means stricter guidelines on collecting, storing and using customer data. While it provides increased security for customers, it also creates a number of challenges for businesses as they need to ensure their systems are compliant with the new regulations or face hefty fines. As such, GDPR has both helped and hindered business activities in terms of protecting customer data while creating additional administrative burdens for organisations.