When monitoring compliance with internal and external regulations, the following issues are considered by Bank Millennium as particularly important:
- counteracting money laundering and financing of terrorism;
- ensuring compliance of Bank Millennium’s internal normative acts with generally applicable provisions of law and with recommendations formulated by supervisory authorities;
- managing conflicts of interest;
- observing the ethical principles;
- restrictions on personal transactions and protecting sensitive information related to Bank Millennium financial instruments issued by the Bank as well as information related to sales and purchases of such instruments;
- monitoring and ensuring compliance with respect to investment products covered by the EU MiFID directive.
Report on the adequacy and effectiveness of the compliance supervision system is presented quarterly to the Bank’s Management Board and the Supervisory Board’s Audit Committee and annually to the Supervisory Board.
No fines for non-compliance with the law or regulations were imposed on the Bank in 2016.