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Financial services compliance requirements

  • Financial Industry Regulatory Authority (FINRA)

    The Financial Industry Regulatory Authority (FINRA) is an independent regulator securities firms doing business in the United States. Securities are financial instruments, such as stocks or bonds, that can be traded freely on the open market.  

  • Credit CARD Act (Credit Card Accountability, Responsibility, and Disclosure Act of 2009)

    The Credit CARD Act is legislation governing the behavior of credit card companies in the United States. The self-stated purpose of the Act is "To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of... 

  • IFRS (International Financial Reporting Standards)

    IFRS (International Financial Reporting Standards) is a set of accounting standards developed by an independent, not-for profit organization called the International Accounting Standards Board (IASB). 

  • Fair Credit Reporting Act (FCRA)

    The Fair Credit Reporting Act (FCRA) is United States federal legislation that promotes accuracy, fairness and privacy for data used by consumer reporting agencies. 

  • Event log management software (ELMS)

    Event log management software (ELMS) is an application used to monitor change management and prepare for compliance audits at enterprises. 

  • compliance validation

    In compliance, validation is a formal procedure to determine how well an official or prescribed plan or course of action is being carried out. Continued... 

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines. Independent accounting, security or IT consultants evaluate the strength and thoroughness of compliance preparations. Auditors review security polic... 

  • event log manager (ELM)

    An event log manager (ELM) is an application that tracks changes in an organization's IT infrastructure. 

  • IT controls

    An IT control is a procedure or policy that provides a reasonable assurance that the information technology (IT) used by an organization operates as intended, that data is reliable and that the organization is in compliance with applicable laws and r... 

  • XBRL (Extensible Business Reporting Language)

    XBRL (Extensible Business Reporting Language) is an XML-based computer language for the electronic transmission of business and financial data. The goal of XBRL is to standardize the automation of business intelligence (BI). 

About Financial services compliance requirements

Compliance professionals in the financial services industry must follow a slew of regulations covering auditing, testing, assessment, Basel II, e-discovery, FACTA, FFIEC, GLBA, PCI DSS, risk frameworks, SEC and FDIC regulations, SOX financial reporting, data security breach laws and the USA Patriot Act section 314. Get the latest financial services compliance news, advice and other resources.