Today, the term compliance in law and economics is the whole of all measures that are meant to lead companies, organs and employees to comply with legal requirements.
The roots of compliance
However, the roots of compliance lie in the American financial sector. At first, the conversion was limited to areas with high risk of insider dealing and conflicts of interest.
Scandals of gigantic proportions shook the US economy. Large corporations operating internationally then understood that organisational protection against irregular behaviour was necessary.
As a clear German synonym for the technical term compliance, the term rule fidelity should stand.
Rechtsanwalt Dipl.-Ing. Michael Horak, LL.M.
Compliance extension
As a result, the conversion extended to the entire financial sector. This includes not only preventive measures against offences such as corruption or money laundering, but also tax evasion and other financial offences.
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Origin in the 80s
The starting point of Compliance Management dates back to the United States in the 1980s. Following the Economic crisis A first approach was developed in the banking and financial sector to avoid insider trading, conflicts of interest and money laundering.
The word compliance comes from business administration and law.
Rechtsanwalt Andreas Friedlein
Awareness grows in the 90s
Finally, compliance gained popularity in the 1990s as a result of the bribery affairs of some commercial companies. Compliance has become increasingly important since then and the interest in compliance has been growing steadily since then.
Differentiated
For a long time, the draft of compliance with rules has received its finishing touches and compliance has thus become clearly differentiated and more specific conceptually.
The word compliance is used with the intention of expressing compliance with laws, guidelines and voluntary codes.
Rechtsanwalt Dipl.-Ing. Michael Horak, LL.M.
This development resulted in new areas such as IT compliance, global compliance, tax compliance, custom compliance, supply chain and the like. Logistics compliance, data protection compliance, emerged.
Source of compliance in medicine
Good compliance means consistent follow-up of medical advice in medicine. The concept of compliance originally comes from the field of medicine. In the medical field, he represents the patient's willingness and cooperation to comply with the doctor's instructions. Compliance in medicine therefore means nothing other than compliance with regulations or behaviour that conforms to the rules.
Rule faithful as a German description
Simple, easy to understand all-encompassing – this is how the term "rule-keeping" is meant to describe the word "compliance" in German. Rule faithfulness can also be called rule conformity.
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