summarize the following into dot point or small sentence:

1. Enrol in newsletters with updates from the legislator (Law firms, Regulatory bodies, etc.). This will enable you to know when there is a new regulation that concerns you and what are its requirements and deadlines;
2. Participate in seminars, conferences or web trainings that inform you on how the new regulation must be implemented. When this is not possible, reading summaries prepared by professionals could be also useful; as it is preparing a summary yourself. Dont forget to highlight items like: concerned parties, requirements, deadlines and penalties.
3. Check your internal procedures and think of ways how to introduce the new requirements into the existing procedures. The content of the law can give useful guidance, especially on the parts that enumerate what is required.
4. Inform all the staff on the new legal requirements and refresh their knowledge. Compliance is not just a responsibility of the Management and of the Compliance Officer It is the job of everyone who works in the financial sector to be alert. Everyone must be able to avoid executing and to report transactions that are suspicious of money laundering and/or financing terrorism.
5. Keep a database with the all the regulations that concern you. Register their dates of approval, their subjects and the status of their implementation within your company.
6. Keep an excel sheet with the status of KYC (Know Your Customer) files of all your clients and a register of breaches. Make sure to keep them up to date.
7. Inform the clients on the new legal requirements and make it clear for them that respecting the law is not optional and that it is in the common interest to comply with the laws. Establish a deadline for non-collaborative clients and estimate the risks of keeping them within your company without being compliant.
8. Document everything and keep records of work that is done, of work in progress and of work to be done with regards to compliance.
9. Appoint a Compliance Officer. If it is not possible, appoint a single person in charge of your companys compliance operations and have her/him trained.
10. In cases of need engage professional advisers in the sector in short term or in permanent term. It might have a high cost in the short term but it will bring you long term profits and the comfort of a healthy continuation of your business.