When we discuss regulatory compliance, we often talk about companies complying with securities laws and other financial regulations. However, regulatory compliance is required in a number of areas, depending on the type of business you have. Companies in New York and across the country that produce and distribute food will be required to change the nutrition labels on their packaging if recently-announced changes proposed by the Food and Drug Administration are approved. These would be the first significant changes to these labels in 20 years.
These proposed label changes, championed by First Lady Michelle Obama, have been nearly a decade in the making. Now the public has 90 days to provide comments to the FDA. There will likely be feedback from food industry groups and companies that produce and sell food. If the changes are approved, companies will have two years to bring their labels into compliance. These changes are expected to cost about $2 billion to make.