What part does compliance play in the financial services industry?

Compliance in financial services works towards meeting the key regulatory objectives to protect the investors and make sure that the markets are efficient, transparent, and fair.

The main task of the compliance department is to keep a close watch on the financial business services and make sure that they remain connected with the external regulations as well as the internal controls.

Statutory compliance in India is all about meeting the legal obligations of the company, mostly to protect the safety, welfare, and health of others.

A regulatory compliance officer must have thorough technical knowledge regarding rules and regulations and policies and the correct way of interpreting and understand them.

Compliance in financial services helps improve the effectiveness of the business and increase efficiency in the new reality.