Preventing conflicts of interests
[GRI 102-25] The Bank has implemented Policy for the prevention of conflicts of interest at Bank Millennium S.A. According to its contents, the Bank has introduced the following rules governing this area:
- accepting and giving monetary and non-monetary performances („incentives”),
- review and approval of products,
- appropriate organizational structure (including transparent official reporting structures) and information barriers,
- compensation policies applied,
- personal transactions,
- engaging in additional or competitive activities,
- transactions with entities from the Bank Millennium Group.
The Bank’s Management Board is responsible for the proper management of conflicts of interests and supervising them. Periodically, at least once a year, on the basis of the recorded cases of existing conflicts of interest, the Compliance Department analyzes the reasons for their occurrence and presents to the Bank’s Management Board conclusions aimed at eliminating them in the future.
Some Companies adhere to specific regulations on top of the regulations that span the Bank Group, e.g. Millennium Dom Maklerski has a Policy for the prevention of conflicts of interest in Millennium Dom Maklerski S.A. and Millennium Towarzystwo Funduszy Inwestycyjnych applies the Rules and regulations for managing conflicts of interest in Millennium TFI S.A.