How Do You Navigate the Regulative Environment?

I imagine most large organizations have teams focused on understanding the regulatory environment. Iimagine there are a lot of things that you don't even know you should be looking at. How do you figure out what regulations are and are not important, or if you're even inadvertently breaching regulation? "What's incumbent in a smaller organization ... is to actually actively go and seek out that council when you know you need it"...