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Picture this: Compliance 101
Glossary of Key Terms
- Compliance: The act of adhering to a set of rules, laws, standards, and ethical guidelines. In finance, it refers to the framework institutions and individuals use to ensure that operations and behaviors conform to regulations, internal policies, and ethical expectations.
- Ethical Behavior: Actions and decisions that are based on principles of honesty, integrity, and fairness. In finance, it involves avoiding conflicts of interest, treating clients fairly, and acting with due diligence.
- Fiduciary Responsibility: A legal and ethical obligation of a person or institution to act in the best interests of another party, often involving a position of trust and confidence.
- Market Integrity: The overall fairness, trustworthiness, and transparency of financial markets. Compliance plays a crucial role in upholding market integrity by preventing fraud and unethical activities.
- Anti-Money Laundering (AML) Laws: Regulations designed to prevent and detect the use of the financial system to conceal or disguise illegally obtained funds.
- Securities Laws: A set of laws that regulate the issuance and trading of securities, protecting investors from fraudulent practices and ensuring fair markets.
- Systemic Risk: The risk that the failure of one institution can trigger a wider collapse of the financial system. Compliance is essential in preventing such risks.
- Reputational Damage: Harm to a company's public image and standing, which can result in the loss of customers and investors.
- Due Diligence: The process of conducting thorough research and analysis before entering into an agreement or transaction, ensuring all relevant factors are considered.
- Conflicts of Interest: Situations in which a person or organization has competing interests, potentially leading to biased decisions and unethical behavior.
Need Classes?
Legal English innovation has several classes weekly, focusing on commercial law and other areas to help you communicate better with your clients.
+57 320-315-4781
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By Eric FroilandGlossary of Key Terms
- Compliance: The act of adhering to a set of rules, laws, standards, and ethical guidelines. In finance, it refers to the framework institutions and individuals use to ensure that operations and behaviors conform to regulations, internal policies, and ethical expectations.
- Ethical Behavior: Actions and decisions that are based on principles of honesty, integrity, and fairness. In finance, it involves avoiding conflicts of interest, treating clients fairly, and acting with due diligence.
- Fiduciary Responsibility: A legal and ethical obligation of a person or institution to act in the best interests of another party, often involving a position of trust and confidence.
- Market Integrity: The overall fairness, trustworthiness, and transparency of financial markets. Compliance plays a crucial role in upholding market integrity by preventing fraud and unethical activities.
- Anti-Money Laundering (AML) Laws: Regulations designed to prevent and detect the use of the financial system to conceal or disguise illegally obtained funds.
- Securities Laws: A set of laws that regulate the issuance and trading of securities, protecting investors from fraudulent practices and ensuring fair markets.
- Systemic Risk: The risk that the failure of one institution can trigger a wider collapse of the financial system. Compliance is essential in preventing such risks.
- Reputational Damage: Harm to a company's public image and standing, which can result in the loss of customers and investors.
- Due Diligence: The process of conducting thorough research and analysis before entering into an agreement or transaction, ensuring all relevant factors are considered.
- Conflicts of Interest: Situations in which a person or organization has competing interests, potentially leading to biased decisions and unethical behavior.
Need Classes?
Legal English innovation has several classes weekly, focusing on commercial law and other areas to help you communicate better with your clients.
+57 320-315-4781
Follow us on Instagram!
Friends on Facebook?
Like us on Linked In?