Transaction costs and best execution: Compliance and measurement

Abstract

The simplest way to think about compliance is: “tell me what I have to do to satisfy the basic requirements.” Compliance would be done “by the book” when the right piece of documentation is created, reviewed, and carefully filed. Indeed, this seems consistent with the definition found in The American Heritage Dictionary: “The act of complying with a wish, request, or demand; acquiescence; in medicine, willingness to follow a prescribed course of treatment.” The second definition in American Heritage is even less venturesome: “A disposition or tendency to yield to the will of others.”

Citation

Wagner, W.H. (2004), "Transaction costs and best execution: Compliance and measurement", Journal of Investment Compliance, Vol. 5 No. 1, pp. 13-19. https://doi.org/10.1108/15285810410635993