Regulation of the UK's financial services industry has developed almost out of recognition. 'Compliance' is the process in thousands of offices in the City and around the country to ensure that the regulations are complied with. Many of the rules are designed to protect the public from misleading claims about returns they could receive from investments. Others outlaw insider trading.
Compliance is an action undertaken according to a predetermined indication or opportunity. For the purpose of this report, compliance with hand hygiene is either washing the hands with soap and water or rubbing the hands with an alcohol based handrub.
In general refers to the obeying of all rules and regulations involving broker/dealers and the sale of securities. Each broker dealer has a specifically licensed ‘compliance officer’ responsible for making sure the firm and salespersons obey the securities regulations.
Meeting the requirements and obligations of affirmative action imposed by Executive Order 11246, Section 503 of the Rehabilitation Act, Section 4212 of the Vietnam Era Veterans' Readjustment Assistance Act and their implementing regulations.
This is the process of checking that the conditions of a permit (or law) are met. A regulator assesses whether a company is complying with the conditions of a permit. There is currently no European criteria or guidance on compliance. Companies can also check compliance.
Legally required adherence to regulatory provisions by financial bodies and individuals. The principal purpose of Compliance is to ensure that Barclays Capital's business is conducted in accordance with the law.
The act of meeting the requirements or cooperating with a specific rule or law. Under HIPAA, compliance means to set up and govern office procedures and protocols according to the specific guidelines outlined in its regulations.
Laws are created to help protect people, species, knowledge and even landscapes. The governments that make society's laws are also accountable to the laws they create. Compliance is a term used to describe when a government or industry has followed a law.
Is the area or the process which has responsibility for firm and employee adherence to the rules and regulations which govern the broker/dealer business. This includes but is not limited to The Powers and Authorities for the firm's position taking and trading limits, guidelines indicated in the employee compliance handbook, registrations, continuing education, sales literature, and employee trading activities. Generally, compliance functions are partitioned between registrations and other rules and guidelines. Non-selling employees are usually in compliance to avoid conflicts-of-interest. However, there are exemptions for very small organizations.
Compliance usually refers to behaviour in accordance with legislation, such the Sarbanes-Oxley Act (SOX) of 2002 For IT Managers this has significant implications for the way in which data is managed, accessed and stored. (SearchDataManagement.com)
The state of being in accordance with the relevant national or regional authorities and their requirements. In the context of financial services, the most important compliance rules come from the Securities and Exchange Commission (US) or the Financial Services Authority (UK). Most large financial services companies have compliance teams whose role is to take an independent stance in making sure that the company is following all the necessary rules and regulations.
The function of an insurance company that is responsible for ensuring that the insurer and its marketers follow all applicable state and federal insurance requirements and regulations, as well as the requirements of organizations that regulate insurance.
adherence to the international labor standards expressed in the FLA Workplace Code of Conduct and Obligations of Companies (see FLA Charter), including adherence to applicable national and local laws. As a dynamic rather than static condition, compliance requires a process to ensure continuing adherence. Non-compliance refers to activities or situations that contravene or fall short of FLA standards. An FLA company's compliance program encompasses a range of activities and initiatives to: uncover non-compliance (e.g., announced and unannounced monitoring visits); remediate non-compliance; and promote improvements in compliance (e.g., rights awareness trainings, health and safety workshops, etc.).
Related Terms: Sarbanes-Oxley Act, "SOX" In this context, insuring that 100% of data is represented and searchable in a vertical application. For example, making sure that a search for particular client's name will always reliably bring back all pertinent records. Vocabulary: Sarbanes-Oxley Act: AKA: "SOX": Compliance regulations relating to what information companies must maintain and provide. SOX compliance is often related to Knowledge Management Systems and related search technology. See http://www.sarbanes-oxley-forum.com
Compliance assesses whether actual money raised and spent adhere to budget mandates set by the legislative body. All the financial statements can help judge compliance, but one in particular, called budget versus actual, is used to assess compliance. Historically, annual compliance with the budget has been the main factor shaping governmental financial reports. Compliance can also mean adherence to laws such as the Davis Bacon law on wages or compliance for eligibility for distributing money.
In the storage context, compliance refers to a whole bundle of legislation, rules and conventions which impact the way that data is stored, archived, retrieved and encrypted. These are summarised in a practical way in this article:- Privacy and Security Regulations, and How they Impact Storage Systems
System for checking adherence to reduction obligations, including measures and sanctions to be implemented if a country does not fulfill its obligations to reduce emissions as laid down in the Kyoto Protocol.
Department responsible for monitoring and managing the risks associated with a company's compliance with legislation and regulations. Fortis's Compliance Officers promote adherence to the internal code of conduct by advising management, businesses and individual employees.
Compliance (or Adherence) in a medical context refers to a patient both agreeing to and then undergoing some part of their treatment program as advised by their doctor or other healthcare worker. Most commonly it is whether a patient takes their medication (Drug compliance), but may also apply to use of surgical appliances (e.g. compression stockings), chronic wound care, self-directed physiotherapy exercises, or attending for a course of therapy (e.g. counselling).
Compliance to the Visa and MasterCard regulatory bylaws. Also, a method of resolving a dispute between members if no chargeback reason code applies. The challenging member must prove financial loss due to a violation of MasterCard or Visa rules by the other member.
a top concern for security and IT departments in the healthcare field and Preventsys is acutely aware of the management and policy challenges that these departments face on a daily basis," said Tom Rowley, chief executive officer for Preventsys
Provisions for ensuring that all parties to an agreement fulfil their obligations to the others. Includes ways in which breaches of agreements can be challenged, and any form of redress that the subject of the breach may have.
The procedure a VISA or MasterCard member may use to resolve a dispute between members when no chargeback reason code applies. The challenging member must prove financial loss due to a violation of MasterCard and/or VISA rules by the other member.
A slight resiliency, or "give," designed into suspension bushings to help absorb bumps. Good compliance allows the wheels to move rearward a bit as they hit bumps but doesn't allow them to move laterally during cornering. Component a raw material, ingredient, part or subassembly that goes into a higher level assembly, compound, or other item.
The "give" or flexing that occurs in the suspension and steering due to the compression of rubber bushings and joint play. A small amount of compliance is desirable because it absorbs shocks and dampens vibrations to reduce steering feedback and harshness
The compliance of a container (such as a lung or the heart) is defined as dV/dP, a function that assigns to each possible pair (Vo, Po) of volume and pressure values of the container a value equal to the ratio between a dV=(V-Vo) (where V is a volume close to Vo), to a small change in the pressure of the container dP=(P-Po), where P is close to Po. The greater the compliance, the floppier the container. The compliance of a contair is equal to the reciprocal of its elastance.
A term used for the bladder to determine its ability to stretch or expand. Persons can have a "poorly compliant bladder" which means that the bladder does not stretch as well and holds smaller amounts of urine (small capacity).
The change of volume divided by the associated change of pressure across a purely elastic structure, or the same ratio measured when a structure that contains resistance and/or inertance is completely static before and after the changes occur. Mathematically, the slope (constant of proportionality) of a linear static pressure difference - volume relation.
The force required to move an elastically suspended object a certain distance - e.g. the 'stiffness' of a spring. The diaphragm suspensions in loudspeakers have mechanical compliance. The air inside an enclosure has acoustical compliance.
Compliance is the consistency and accuracy with which a patient follows the regimen prescribed by a physician or other health professional; The relative ease with which a body stretches or deforms; In pulmonary physiology, a measure of volume change per unit pressure under static conditions; The reciprocal of elastance (i.e., L/cmH20)
a measure of the extent to which patients undergo an assigned treatment or regimen, e.g., taking drugs, undergoing a medical or surgical procedure, doing an exercise regimen, or abstaining from smoking.
The extent to which Parties to the United Nations Framework Convention on Climate Change meet their obligations under the Kyoto Protocol, including the question of consequences for failing to do so. ()
Title VI, Civil Rights Act – Assurance required from all federal grant recipients which states that the agency will not discriminate on the basis of race, color, or national origin in providing services during the term of the grant award.
Definition of Year 2000 Conformity Requirements (also known as century or millennium compliance) Prepared by a British Standards Institution committee. What is Compliance? The Y2k Cindrella Project definition. University of Florida Information Systems' Year2000 Compliance Statement . Proposed Criteria for "Century Compliance" . From GTE Corporation
An affirmative indication or judgment that the supplier of a product or service has met the requirements of the relevant specifications, contract, or regulation; also, the state of meeting the requirements. In ISO terms, compliance to regulations. Compare with Conformance.
The stage of testing when a product under test meets all the requirements of a test and/or standard, but has not yet been shown to formally have conformance with the requirement of the specification (which often requires additional paperwork or user acceptance). The following note is adapted from the IEEE's POSIX 1003.3-1990 standard: The term compliance was introduced to provide an efficient way to represent specific acceptable levels of conformance to an implementation of a specification (as measured by a test). Thus "compliant with" a specification means "passing" the tests associated with the specification. However, at a later stage the developers of this standard decided that a distinction between the words compliance and conformance should be eliminated as it was causing confusion.
A 'self-test' software test suite is available to both implementer and user. Software test suite usually designed to rigorously test inputs, processes, and outputs of a guideline, recommendation, specification, or standard: Know the source. Provider of test suite may or may not allow users of test suite to claim more than conformance (no formal Endorsement).
Distribution of at least one copy (possibly the received copy) of a chain letter within one month of its receipt. Full compliance is distribution of the entire copy quota within a stated or implied deadline. CLEVO
conducting extraction and restoration activities in accordance with terms and conditions established by law. contemporaneous: mining and reclamation operations conducted during the same period of time.
A Compact always includes undertakings (commitments, promises) on both sides and sometimes joint ones too. Compliance is about following and carrying out these undertakings along with the mechanisms (such as mediation or the Ombudsman) for resolving disagreements or alleged breaches.