In December, we predicted regulatory compliance would be a key cybersecurity trend for 2025. Six months later, Canadian businesses are learning just how critical it is to their success and uncovering common challenges that keep them from becoming compliant.

As data powers our increasingly digital economy and the volume of cyberthreats grows, governments are introducing new regulations to protect citizens. Organizations must achieve compliance to avoid serious penalties. But compliance offers other benefits, too. For starters, it builds resilience, secures sensitive data, and protects operational stability. Most importantly, it builds trust with customers and positively impacts an organization’s reputation in the market. In fact, the implications of mastering compliance for reputation alone can make the difference between success and failure in today’s competitive world.

To get there, your business must handle multiple security standards and navigate a regulatory landscape that’s constantly evolving.

The evolving landscape of cybersecurity compliance

In an effort to protect citizens, governments and industry regulators are releasing and revising regulations faster than ever before.These mandates establish minimum standards for secure information handling, risk control, and data management. For Canadian organizations, common regulations include:  

PCI DSS

Compliance with Payment Card Industry Data SecurityStandard, or PCI DSS, ensures secure payment processing and applies to all organizations that store, process or transmit cardholder data. Essentially, if your business handles credit or debit card information, PCI DSS will apply to you.

It’s important to note that this standard isn’t a legal requirement but is required and enforced by banks and payment processors. In other words, if your organization experiences a data breach that is determined to be the result of a failure to implement PCI DSS properly, your payment processor or bank may impose penalties.

Guidelines B-10 and B-13

The Office of the Superintendent of Financial Institutions(OSFI) requires Canadian financial institutions to follow strict cyber risk management standards through Guidelines B-10 and B-13. Together, these guidelines address third-party and technology risk for federally regulated financial institutions.

Both guidelines aim to build resilience through strong governance, risk management, and monitoring. B-10 outlines requirements to manage the risks associated with third-party relationships, including technology, business process, and strategic partnerships. Meanwhile, B-13focuses on managing technology risks and builds on B-10 by emphasizing the need to manage cyber risk within third-party relationships.

Bill C-8

Just last quarter, Canada introduced Bill C-8 into the House of Commons with the aim of establishing a legal framework to protect Canada’s critical infrastructure. When it passes, C-8 will apply to organizations operating vital systems, including telecommunications, pipelines, power lines, nuclear energy, transportation, banking, and financial clearing.

If your organization falls into this category, C-8 will require you to:

‍

1.    Establish cybersecurity programs in line with the act

2.    Maintain and regularly review their programs

3.    Monitor, mitigate, and report cybersecuritythreats originating from third-party relationships

4.    Report cybersecurity incidents within 72 hours

With financial penalties for non-compliance, the bill will enhance accountability and advance governance in Canada. However, becoming compliant will be a big task and organizations in relevant industries would be wise to prepare.

NISTCybersecurity Framework

The NIST Cybersecurity Framework 2.0, or NIST CSF, is a set of voluntary guidelines designed to help all organizations manage and reduce cybersecurity risks. It provides a structured, yet flexible security framework organized around six core functions: identify, protect, detect, respond, recover, and govern.

NIST is widely recognized for its frameworks and guidelines, making it the industry standard for cybersecurity best practices and the ideal starting point for organizations building trust in the market.

ISO 27001

ISO 27001 is a voluntary global standard for security management systems. While not legally mandated, it may be contractually required by clients for organizations dealing with sensitive data. Organizations that achieve compliance with ISO 27001 demonstrate a strong commitment to information security to customers, partners, and regulators. These organizations are also positioned to meet other industry-specific or regulatory requirements.

SOC 2 and COBIT/ITIL

Another voluntary standard, SOC 2 is common among service organizations to show their commitment to security and build trust with clients and partners. Through SOC 2 reports, these organizations can demonstrate that they adhere to industry standards when it comes to security, availability, confidentiality, privacy, and processing integrity.

Many organizations use SOC 2 together with COBIT and ITIL, which provide the framework for managing and delivering IT services.

Common challenges in achieving compliance

As new regulations are introduced and existing ones evolve, your business might be struggling to keep up. Before you can even start working toward compliance, you need to figure out which regulations apply to your business and which standards align with your objectives. But that's just the beginning. You must also decipher complex security requirements and develop the right controls to meet them.

Here are four common challenges that might be keeping you from getting there:

Insufficient resources

The cybersecurity talent shortage is hitting organization shard. Everyone's competing for the same small pool of skilled professionals, which means salaries keep climbing. Your team is probably feeling the squeeze, trying to achieve compliance while tight budgets keep you from hiring resources with full framework expertise.

Reactive processes

Many organizations find themselves trapped in reactive cycles, waiting for audit periods before they address compliance matters. Without proactive processes, your organization will find it difficult to achieve and maintain compliance as regulations evolve.    

To build resilience and trust for the future, investing in proactive security is essential.

Compliance fatigue

Regulatory complexity and overlapping requirements create major challenges for organizations. Different compliance frameworks share identical goals but use different language and have unique requirements. Understanding where frameworks and standards overlap calls for specialized knowledge. Without it, your organization might be repeating the same tasks with different paperwork.

As you tackle multiple compliance frameworks the requirements pile up and compliance fatigue sets in, leaving teams overwhelmed.

Weak commitment to ongoing compliance

While most organizations see it as the finish line, getting compliant is just the beginning. Your compliance efforts must keep pace with your changing business, evolving technology stack, and emerging threats. This calls for a strong commitment to ongoing compliance work, including implementing monitoring systems, auditing procedures, and reporting mechanisms to demonstrate regulatory standard compliance over time.

Overcoming challenges and simplifying compliance

Achieving regulatory compliance is a big lift for any organization. That’s why smart leaders engage specialized partners, like MOBIA, to help them navigate the complexity, overcome common challenges, and speed compliance. These partners come with deep expertise, tested methodologies, and fresh perspectives on how to turn compliance into a strategic advantage.

Working with a partner specializing in compliance typically includes:

Initial assessment

We start with an initial assessment to determine relevant regulations and evaluate current security measures against requirements. During this process, we conduct a complete analysis of present policies, procedures, and technical controls to identify gaps in compliance.

Strategic roadmapping

After the initial assessment, we develop a detailed and prioritized plan to implement new technology and improve processes that address any gaps we’ve identified. With a focus on streamlining compliance processes, this roadmap is built around automated tools and integrated systems that improve efficiency and reduce your team’s manual effort.

Hands-on support

From assessment to implementation, we offer hands-on support to help you achieve compliance and build trust with customers and partners.This includes building systems that track ongoing compliance and generate reports for internal stakeholders and external auditors.

Proactive compliance is a competitive advantage

Compliance isn't easy, but it pays off for organizations who see it as more than a checkbox but an opportunity to build trust and competitive advantage. While it’s true that achieving and actively managing compliance protects your organization from financial penalties, that’s just the tip of the iceberg. Demonstrated dedication to robust security and privacy standards builds a level of trust among customers, partners, and investors that supports sustained growth.

In other words, by proactively managing regulatory compliance beyond standard requirements, your organization can transform compliance into a competitive advantage. More importantly, you don’t have to doit alone. Specialized partners, like MOBIA, offer the expertise to streamline compliance and overcome the obstacles blocking your success. They provide the support you need to build a strong, secure, and resilient future for your organization.

‍