Regulatory Mapping Produce a comprehensive regulatory requirement matrix that maps each business process step to the specific regulatory requirements it must satisfy, identifies gaps where no control exists, and provides the foundation for a compliance program. Step 1: Entity and Product Classification Identify exactly what the client is and does, because regulatory obligations are entity- and product-specific. Entity type (select all that apply): Insurance: - [ ] Insurance agent (licensed individual or agency) - [ ] Insurance broker - [ ] Managing General Agent (MGA) — has binding authority…