Compliance framework. This section will describe when reporting agents are not compliant and what implications this has. The reporting agent is responsible for all of the data they submitted, or should have submitted to DNB. All data that DNB receives via other sources, like the counterparty reference data of Dutch counterparties from the national statistics institute CBS, is not the responsibility of the reporting agent. Any question that DNB has on data received from the reporting agent is for the reporting agent to answer. Questions on data received from other sources are the responsibility of those sources and are not the responsibility of the reporting agent.
Compliance framework. This section will describe when reporting agents are not compliant and what implications this has, based on the ECB guidelines. This section will be elaborated once these guidelines are available from the ECB. The reporting agent is responsible for all of the data they submitted, or should have submitted to DNB. All data that DNB receives via other sources, like the counterparty reference data of Dutch counterparties from the national statistics institute CBS, is not the responsibility of the reporting agent. Any question that either DNB or ECB has on data received from the reporting agent is for the reporting agent to answer. Questions on data received from other sources are the responsibility of those sources and are not the responsibility of the reporting agent.
Compliance framework. The compliance framework is described in detail in the DGS policyrules of DNB.
Compliance framework. 3.1 A failure of the CSA to meet the standards set out in sections 2.1, 2.2, 2.3 and 2.7 of this Schedule will result in progressive enforcement actions.
3.1.1 Each infraction will be exclusive by depot and type.
3.1.2 There are three enforcement levels applicable to these sections.
3.1.3 Where the CSA fails to meet a standard in these sections, the BCMB shall notify the CSA of the failure in the monthly CSA Evaluation report.
3.1.4 The CSA will be given 10 days to rectify the problem following which, where the CSA fails to meet the standard a second time, the BCMB shall notify the CSA of the failure in the monthly CSA Evaluation report and the CSA shall pay a Compliance Fee.
3.1.5 The CSA will be given a further 10 days to rectify the second incident of the same problem following which, where the CSA fails a third time to meet the standard the CSA shall pay a Compliance Fee and CSA Senior Management shall attend a meeting with the BCMB.
3.1.6 The CSA may apply to the BCMB to move down a Level in the Compliance Framework by demonstrating that procedures have been corrected in order to prevent another failure to meet the standard.
3.1.7 The CSA may not apply to move down a Level of a Compliance Framework until three (3) months has passed from the date of the notification in the monthly CSA Evaluation from the BCMB. This is to provide the CSA with time to rectify the issue and to trial the improvements.
3.1.8 The CSA may only apply to move down a Level of a Compliance Framework if in Level 2 or higher.
3.1.9 An application to the BCMB will move the CSA down one Level of a Compliance Framework at a time and must include a description of the improvements made to rectify the failure.
3.1.10 After receipt of an application, the BCMB will monitor the situation for a three- month period. Part of the monitoring may include a check-in with the Depot on the specific issue to confirm that it has been resolved on their side. The BCMB will also review the QMS.
3.1.11 Where the CSA fails to meet the same standard during the three-month monitoring period, the CSA’s application will be void and they will move up a Level in the Compliance Framework. A new application will have to be made after the issue has been resolved and after three-months has passed (as per 3.1.7 above).
3.1.12 Once the three-month monitoring period has passed without issue, the BCMB will move the CSA down a Level of the Compliance Framework.
3.1.13 On a per Depot, per Framework basis, if the CSA remai...
Compliance framework. ComSuper acknowledges that in delivering administration services to ARIA as Trustee of the PSSap, PSS and CSS schemes it is responsible for ensuring that those services are delivered within the compliance framework on which ARIA’s APRA and AFS licenses rely. In this regard ComSuper will ensure that there are appropriate controls in place to deliver on the range of compliance obligations for which it has responsibility.
Compliance framework. Innovate does not provide compliance certification for any portion of the Customer Configuration. Innovate makes no representation or warranty as to the compliance readiness of any portion of the Customer Configuration. Customer understands and agrees that compliance readiness is a system wide endeavor and the compliance readiness of a Deployment can fail if a single aspect of the Customer Configuration is not compliant. Should Customer require a HIPAA or PCI compliant Deployment, Innovate will work with Customer to architect a Deployment utilizing compliance ready elements. Should Customer require a Deployment that incorporates elements for any other compliance framework, Customer will need to engage the Innovate Professional Services or Innovate Managed Security teams.
Compliance framework. Innovate does not provide compliance certification for any portion of the Customer Configuration. Innovate makes no representation or warranty as to the compliance readiness of any portion of the Customer Configuration. Customer understands and agrees that compliance readiness is a system wide endeavor, and the compliance readiness of any target the Third Party Cloud environment can fail if a single aspect of the Customer Configuration is not compliant. Should Customer require the Third Party Cloud environment to be HIPAA or PCI compliant, Innovate will work with Customer to design an Enhancement utilizing compliance ready elements. Should Customer require an Enhancement that adheres to elements of any other compliance framework, Customer will need to engage the Innovate Professional Services or Innovate Managed Security teams.
Compliance framework. This section will describe when reporting agents are not compliant and what implications this has, based on the ECB guidelines. This section will be elaborated once these guidelines are available from the ECB. The reporting agent is responsible for all of the data they submitted, or should have submitted to DNB. All data that DNB receives via other sources, like the counterparty reference data of Dutch counterparties from the national statistics institute CBS, is not the responsibility of the reporting agent. Any question that either DNB or ECB has on data received from the reporting agent is for the reporting agent to answer. Questions on data received from other sources are the responsibility of those sources and are not the responsibility of the reporting agent.
1. 9Data ownership and information classification Subject Who/what Owner within DNB: Statistics Division, Monetary and Banking Statistics Department Manager Criticality assessment performed (Y/N) By Result Yes Data owner DNB DNB-CONFIDENTIAL DNB classification Explanatory notes DNB-PUBLIC Information classified as DNB-PUBLIC is accessible to all stakeholders within and outside of DNB. DNB-UNRESTRICTED Access to information classified as DNB-UNRESTRICTED must be limited exclusively to persons employed by or performing work at DNB. DNB-RESTRICTED Information classified as DNB-RESTRICTED, can be made accessible to persons who are involved in the matter or would benefit from a general awareness of it in accordance with the rules of DNB.
Compliance framework
