A system is provided for generating a regulatory alert index using modularized data and taxonomy-based classifications of regulatory obligations. The system comprises a plurality of databases storing regulatory compliance data and a plurality of processors that process the regulatory compliance data to generate business requirements for complying with regulatory obligations. The plurality of processors are further configured to identify new regulatory compliance data published by regulating entities and update the corresponding stored regulatory compliance data when new information is identified. A taxonomy engine is also provided that determines a regulatory alert index score for each of the generated business requirements based on how often the plurality of processors identify new regulatory compliance data related to the generated business requirement.
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