As a financial undertaking licensed to conduct securities transactions and an issuer of listed financial instruments, the Bank operates a Compliance Department. The Bank’s Compliance Officer is appointed by the CEO, subject to Board confirmation in accordance with Article 130 of the Act on Securities Transactions, no. 108/2007. The Compliance Officer is responsible for regular monitoring and assessment of the suitability and efficacy of the Bank’s measures concerning securities transactions and anti-money laundering in accordance with the Act on Measures against Money Laundering and Terrorist Financing, no. 64/2006..
Compliance risk is defined as the risk of legal or regulatory sanctions, financial loss, or damage to the Bank’s reputation in the event of failure to comply with the applicable regulatory instruments.
Last updated 14 April 2016