There are many significant changes that have occured over the past few decades which require businesses and governments to operate differently. These changes include the following big 4:

• The rise of the Internet, the Digital economy, and the associated increases in transparency (both mandated and data leaks such as Wikileaks, the Panama papers, and others.)
• The global push to provide whistleblowers both more protection and more incentive.
• Regulators have access to a larger and more varied array of information than ever before (Big Data and Data Analytics). Therefore, it is increasingly difficult to “hide” in this new digitally connected world. In addition, corporate (and personal) blackmail is on the rise.
• The rise of the 1% - which has received increasing scrutiny in the media and the many “revelations” which have shaped societal expectations and demands on regulators and government in general.

As a result of these changes, governments and regulators are increasingly adhering to standards well above legal compliance. They are pursuing policies which are fair and moral rather than just compliant. Furthermore, regulators are increasing expected to carry out their mandates in an increasingly transparent manner, as the public wants to understand how decisions are made. In this module we will explore how these changes and societal pressures have resulted in significant regulatory changes, and how these changes have material implications on the nature of how businesses must operate.