From Longman Business Dictionary
requirere·quire /rɪˈkwaɪə-ˈkwaɪr/ verb [transitiveT] formal1to officially demand that people do something, because of a law or rulerequire somebody to do somethingthe ruling requiring companies to disclose the value of stock
require thatAccounting rules require that corporate financial statements disclose the updated value of assets.
2to need somethingAt first, CD-ROMs required a special disk drive that cost around $700.