Compliance

com•pli•ance

noun

the act of conforming, acquiescing, or yielding.
a tendency to yield readily to others, especially in a weak and subservient way.
conformity; accordance: in compliance with orders.
cooperation or obedience: Compliance with the law is expected of all
Physics:

the strain of an elastic body expressed as a function of the force producing the strain.

a coefficient expressing the responsiveness of a mechanical system to a periodic force.

Compliance comes in many forms, its relevant meaning often misconstrued. The financial services sector, and by extension the credit & risk management industries have seen significant changes & improvements in the area of corporate governance and compliance standards. Global Credit Solutions (GCS) leads the way in embracing international best practice standards.

Compliance standards vary from country to country, set by domestic government policy & industry demand. For instance the UK enforce much more stringent standards, than that of Kazakhstan. Accordingly, client expectations in the UK and other countries with more developed economies are more demanding, requiring a stated & proven compliance policy.

Domestically, GCS Partners embrace their own standards, as per the requirements of their given country. Globally, they support the introduction of the "Global Compliance Requirements Program" (GCRP). This program establishes a global standard, the first of its kind, with three levels: Silver, Gold & Platinum.

To lean more about the specifics of these standards, and each countries level of compliance please contact us.