Compliance Department

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Dictionary Says

Definition of 'Compliance Department'

The department or unit within a brokerage firm, bank or financial institution that ensures compliance with all applicable laws, rules and regulations. The compliance department generally has a wide range of roles and responsibilities within a firm. Depending on the business of the financial institution, these duties may range from monitoring trading activity, preventing conflicts of interest and ensuring compliance with regulations at brokerage firms, to preventing money laundering and potential tax evasion at large banks.

Investopedia Says

Investopedia explains 'Compliance Department'

As a firm's internal police force, the compliance department is unlikely to be the most popular unit in a firm. However, a competent compliance department is of the utmost importance in maintaining a firm's integrity and reputation.

Compliance demands for most financial firms increased regulatory oversight significantly in the wake of the 2008 credit crisis. This has led to increased demand for experienced compliance staff.

Although compliance costs have spiraled higher in recent years, the costs of non-compliance - even if inadvertent - can be far greater for a financial institution. Non-compliance may lead to stiff monetary fines, legal and regulatory sanctions, and loss of reputation.
Search results for

'Compliance Department'

  • Get A Job In Compliance

    http://www.investopedia.com/articles/financialcareers/07/compliance-job.asp
    ... Careers, Economics. The compliance department of a brokerage firm works to ensure
    that all of the employees and officers in the firm comply with Securities and ...

  • Should You Offer Alternative Investments?

    http://www.investopedia.com/articles/financial-careers/08/alternative-investment-offers.asp
    ... broker-dealer only have one course of action available: the representative must
    submit the investment to the broker-dealer's compliance department for approval ...

  • Series 63 Study Guide - Business Practices - Compliance and ...

    http://www.investopedia.com/exam-guide/series-63/business-practices/compliance-custody-client-funds.asp
    ... Complaints Any time a customer files a complaint with or broker-dealer, the complaint
    must immediately be reported to the firm's compliance department. ...

  • Lead The Charge With Product Development

    http://www.investopedia.com/articles/financialcareers/07/product-managment.asp
    ... Right after that meeting, there may be a similar gathering within the compliance
    department in order to go over compliance issues with that same fund that is ...

  • Is Your Broker Ripping You Off?

    http://www.investopedia.com/articles/pf/07/complaint_broker.asp
    ... If you still aren't satisfied with the response you get, you can contact the firm's
    compliance office. ... Give the compliance officer 30 days to respond. ...

  • A Guide To Global Investment Performance Standards

    http://www.investopedia.com/articles/07/GIPS.asp
    ... Mary E. Brown, CFA, is a member of the fixed income team of Principal Global Investors,
    and was previously manager of the Investment Compliance Department. ...

  • CFA Level 1 Study Guide - Ethics and Standards - Standard IB ...

    http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/standard-independence-objectivity.asp
    ... 1.31 GIPS: Fundamentals Of Compliance And Conclusion. 2. Quantitative Methods:
    2.1 Introduction; 2.2 What Is The Time Value Of Money? ...

  • A Guide To Global Investment Performance Standards

    http://www.investopedia.com/articles/07/gips.asp
    ... Mary E. Brown, CFA, is a member of the fixed income team of Principal Global Investors,
    and was previously manager of the Investment Compliance Department. ...

  • Tips For Resolving Disputes With Your Financial Advisor

    http://www.investopedia.com/articles/02/100902.asp
    ... To discuss account problems with the branch manager or compliance department of
    the firm and to receive prompt attention and fair consideration of your ...

  • Trending Toward Asset-Based Management

    http://www.investopedia.com/articles/financialcareers/07/asset-management.asp
    ... Furthermore, not having a compliance department to deal with allows RIAs to focus
    on managing their clients' assets instead of filling out reports and other ...

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