Importance

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Abstract

A system for generating modularized data and taxonomy based classifications of regulatory obligations. The system comprises a server arrangement comprising one or more crawlers in operative communication with a plurality of databases, wherein the one or more crawlers are configured to retrieve regulatory compliance data from one or more regulatory institutions, and a plurality of processors that process the regulatory compliance data to generate business requirements for complying with regulatory obligations and corresponding compliance information related to the business requirements. The system also comprises a taxonomy engine that processes the business requirements and generates a plurality of taxonomy questions related to the business requirements. The taxonomy engine further receives answers to the plurality of taxonomy questions from a first business via a graphical user interface and processes the answers to identify business operating parameters of the first business and utilizes the identified business operating parameters to determine which of the business requirements are applicable to the first business.

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First Claim