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The word compliance is derived from to comply with and has come to mean conducting business in accordance with applicable law. The term now refers to the comprehensive obligations placed upon members of senior management of a company to take comprehensive organisational precautions and measures, in order to ensure that an entity and its employees conduct themselves within the law as well as to swiftly detect the occurrence of any breaches of the law and to enforce sanctions accordingly. Compliance does not only relate to obligatory rules and standards, but also addressing such rules and standards on a voluntary basis. Compliance in the banking and capital markets sector increasing extends beyond the scope of out-and-out securities compliance and has established itself as an important element of orderly corporate governance.

Term-Nr.: 180

German: Compliance (213)

Source: FMA AT m. e. E., 30.10.2018

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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