compliance function definition

compliance function means the function of having responsibility for ensuring compliance by the licensee with its regulatory obligations;

compliance function means the independent function that identifies, assesses, monitors and reports on the licensee’s compliance risk, including the provision of compliance training to member of staff and having responsibility for ensuring compliance by the licensee with its regulatory obligations;

compliance function means the Compliance Function within Loyens & Loeff which consists of the General Compliance Function and the Local

Examples of compliance function in a sentence

• The results and status of the compliance programme were reported by the Compliance Function on a half-yearly basis to the Compliance Committee to monitor and address on-going changes and implementations in the legislative and regulatory requirements affecting the Group.

• SBI Paris Branch Authority of Prudential Control and Resolution (ACPR), the banking regulator in France imposed penalty of Euro 300000 (INR 21,445,500) on Paris Branch for not implementing regulatory requirements such as continuity in Compliance Function, creation of independent position of Accounts Controller and instituting an audit trail in regulatory reporting.

• In respect of Overseas Regulators, details of penalties imposed are furnished below: • SBI Paris Branch Authority of Prudential Control and Resolution (ACPR), the banking regulator in France imposed penalty of Euro 300000 (INR 21,445,500) on Paris Branch for not implementing regulatory requirements such as continuity in Compliance Function, creation of independent position of Accounts Controller and instituting an audit trail in regulatory reporting.

• The Policy is reviewed by the Compliance Function on a regular basis and at least once a year.

• The Agreement is reviewed by the Compliance Function on a regular basis and at least once a year.

• The Bank has established the Shari’a Compliance Function and the Regulatory Compliance Function in keeping with Basel and CBB guidelines.

• A compliance officer must verify that any cross trade undertaken by the fund management company complies with the requirement provided in paragraph 11.30 of the Guidelines on Compliance Function for Fund Management Companies.

• Description of how the compliance function was implementedThe Compliance Function interacts with other functions, being a second line of defence of the Company, and contributes to reinforcing the risk control framework of the Company.

• Director in charge of Compliance Function and Compliance Task Force has fulfilled his duties according to the applicable provisions.

• The Compliance Function has in place monitoring procedures for the services provided by related parties and outsourced service providers.

More Definitions of compliance function

compliance function means the corporate function responsible for assessing the compliance of business activities with applicable rules and regulations;

compliance function means an independent function that identifies, assesses, advises on, monitors and reports on the Bank’s compliance risk, that is the risk of legal or regulatory sanctions, financial loss, or loss to reputation the Bank may suffer as a result of its failure to comply with all applicable laws, guidelines, codes of conduct and standards of good practice.

compliance function means the Compliance Department in the Group.“Confidential Information”means any information that is confidential in nature or sensitive and/or not generally available to the public and in this Policy includes:(a) information about the identity, rank, position or other personal details of a Whistleblower;(b) a person against whom a Whistleblower has made a disclosure;(c) information disclosed by a Whistleblower; or(d) information that, if disclosed, may cause detriment to a person.“Detrimental Action”has the meaning ascribed to it in Clause 7 of this Policy.“Misconduct”means any conduct which, if proved, constitutes a misconduct in employment including but not limited to any criminal offence or any conduct that constitutes a, wrongdoing or malpractice and any breaches of the Group’s Code of Conduct, policies, and manuals and/or any other conduct as more particularly described in Clause 4.2.“Third Party”means any individual or organisation that the Employee comes into contact with during the course of work and the running of the Group’s business, and includes business partners, actual and potential clients/customers, intermediaries, referrers of work, vendors, suppliers, contractors, sub-contractors, service providers, distributors, dealers, roaming partners, resellers, business contacts, business associates, consultants, agents or their personnel (which includes agency staff), representatives, advisers, Public Body (including their advisers, representatives and officials), politicians and political parties.“Whistleblower”means the person making a disclosure or allegation against another of any concern related to any Misconduct that is relevant to the employment or contractual relationship with the Group.Valid from: 2022-12-01Page: 3 of 8

compliance function means compliance with the relevant laws and regulations and instructions of the regulatory organization of Mongolia in the company's operations, fulfilling their legal requirements in a timely manner, as well as ensuring the prevention of MLTF, and other obligations under international agreements. to implement special regulations and to be free from conflicts of interest and adhere to the code of ethics;

compliance function means an organ below the Corporate Secretary of Pertamina with duties to carry out development, fostering, application and upholding of Good Corporate Governance (GCG) principles;

compliance function means a function that has the duty to develop, guide, implement and enforce the Good Corporate Governance (GCG) practices.