2006-07-20 09:06:43 · 3 answers · asked by alex658 1 in Business & Finance ➔ Other - Business & Finance
Compliance means to follow a certain list of guidelines set by the industry or government.
Banks have seperate Compliance departments that ensure that the bannk's daily routines are Compluing with Government and FDIC regulations as well as Insurance and brokerane terms and conditions.
I hope that is what you wanted
2006-07-20 09:11:43 · answer #1 · answered by billyandgaby 7 · 0⤊ 0⤋
Statutory compliance Statutory means "of or related to statutes," or what we normally call laws or regulations. Compliance just means to comply with or adhere to. So statutory compliance means you are following the laws on a given issue. The term is most often used with organizations, who must follow lots of regulations. When they forget or refuse to follow some of those regulations, they are out of statutory compliance. A company that follows all the rules, is in statutory compliance. Many companies are out of statutory compliance, in part because the cost of following the rule is too high, and/or the consequence is too small to worry about.
2014-12-19 17:10:05 · answer #2 · answered by stella 1 · 0⤊ 0⤋
Basically to follow the rules, or policy, procedures. See below
2006-07-20 09:13:24 · answer #3 · answered by glowchild7 3 · 0⤊ 0⤋