2019 Financial
and Social Report

Compliance – ensuring compliance with the regulations

[GRI 102-17, GRI 103-2, GRI 103-3] The rules and standards to ensure compliance with internal and external regulations are described in the document entitled “Compliance Policy – Principles and Guidelines” which applies throughout the Bank Millennium Group.

Within the compliance risk management process, Bank Millennium considers the following areas to be especially significant:

  • 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,
  • personal transactions,
  • protecting confidential information and information subject to professional secrecy,
  • monitoring and ensuring compliance with respect to the financial products and services covered by the EU MiFID2 directive.

A report on the functioning 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.

[GRI 419-1] No fines for non-compliance with the law or regulations were imposed on the basis of a legally binding judgment on the Bank in 2019.

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