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2018 Financial and Social Report

Ensuring the safety of the funds entrusted by clients is a priority in the Bank Millennium Group’s activity. Efficient management of this area is governed by the policies of information security, prevention of abuse and risk management, code of ethics and best market practices, which are in force both at the Bank and in the Group’s Companies. The Bank’s internal regulators serve the prevention and identification of various risks related to the conduct of banking business. Employees are trained regularly on the rules for preventing abuse and ensuring protection of the clients’ funds and data.

The rules and standards to ensure compliance with internal and external regulations are described in the “Compliance Policy” for the Bank Millennium Group. When monitoring compliance with internal and external regulations, Bank Millennium considers the following issues to be particularly important:

  • preventing money laundering and financing of terrorism,
  • ensuring compliance of Bank Millennium’s internal regulations with generally applicable provisions of law and with recommendations formulated by regulatory authorities;
  • preventing and managing conflicts of interest;
  • observing ethical principles;
  • restrictions on personal transactions and protecting sensitive information related to Bank Millennium, financial instruments issued by the Bank and information related to the sales / purchase of such instruments
  • monitoring and ensuring compliance with respect to the financial instruments covered by the EU MiFID2 directive.

The Bank’s compliance report is presented quarterly to the Bank’s Management Board and the Supervisory Board’s Audit Committee and annually to the Supervisory Board. [GRI 102-17, 103-2, 103-3]

No fines for non-compliance with the law or regulations were imposed on the basis of a legally binding judgment on the Bank in 2018. [GRI 419-1]