Compliance Function definition

Compliance Function means the function of having responsibility for ensuring compliance by the licensee with its regulatory obligations;
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Compliance Function means the Compliance Function within Loyens & Loeff which consists of the General Compliance Function and the Local
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Compliance Function means the corporate function responsible for assessing the compliance of business activities with applicable rules and regulations;
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Examples of Compliance Function in a sentence

  • The results and status of the compliance programme were reported by the Compliance Function on a half-yearly basis to the Compliance Committee to monitor and address on-going changes and implementations in the legislative and regulatory requirements affecting the Group.

  • SBI Paris Branch Authority of Prudential Control and Resolution (ACPR), the banking regulator in France imposed penalty of Euro 300000 (INR 21,445,500) on Paris Branch for not implementing regulatory requirements such as continuity in Compliance Function, creation of independent position of Accounts Controller and instituting an audit trail in regulatory reporting.

  • In respect of Overseas Regulators, details of penalties imposed are furnished below: • SBI Paris Branch Authority of Prudential Control and Resolution (ACPR), the banking regulator in France imposed penalty of Euro 300000 (INR 21,445,500) on Paris Branch for not implementing regulatory requirements such as continuity in Compliance Function, creation of independent position of Accounts Controller and instituting an audit trail in regulatory reporting.

  • The Policy is reviewed by the Compliance Function on a regular basis and at least once a year.

  • The Agreement is reviewed by the Compliance Function on a regular basis and at least once a year.

  • The Bank has established the Shari’a Compliance Function and the Regulatory Compliance Function in keeping with Basel and CBB guidelines.

  • A compliance officer must verify that any cross trade undertaken by the fund management company complies with the requirement provided in paragraph 11.30 of the Guidelines on Compliance Function for Fund Management Companies.

  • Description of how the compliance function was implementedThe Compliance Function interacts with other functions, being a second line of defence of the Company, and contributes to reinforcing the risk control framework of the Company.

  • Director in charge of Compliance Function and Compliance Task Force has fulfilled his duties according to the applicable provisions.

  • The Compliance Function has in place monitoring procedures for the services provided by related parties and outsourced service providers.


More Definitions of Compliance Function

Compliance Function means an independent function that identifies, assesses, advises on, monitors and reports on the Bank’s compliance risk, that is the risk of legal or regulatory sanctions, financial loss, or loss to reputation the Bank may suffer as a result of its failure to comply with all applicable laws, guidelines, codes of conduct and standards of good practice.
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Compliance Function means the Compliance Department in the Group.“Confidential Information”means any information that is confidential in nature or sensitive and/or not generally available to the public and in this Policy includes:(a) information about the identity, rank, position or other personal details of a Whistleblower;(b) a person against whom a Whistleblower has made a disclosure;(c) information disclosed by a Whistleblower; or(d) information that, if disclosed, may cause detriment to a person.“Detrimental Action”has the meaning ascribed to it in Clause 7 of this Policy.“Misconduct”means any conduct which, if proved, constitutes a misconduct in employment including but not limited to any criminal offence or any conduct that constitutes a, wrongdoing or malpractice and any breaches of the Group’s Code of Conduct, policies, and manuals and/or any other conduct as more particularly described in Clause 4.2.“Third Party”means any individual or organisation that the Employee comes into contact with during the course of work and the running of the Group’s business, and includes business partners, actual and potential clients/customers, intermediaries, referrers of work, vendors, suppliers, contractors, sub-contractors, service providers, distributors, dealers, roaming partners, resellers, business contacts, business associates, consultants, agents or their personnel (which includes agency staff), representatives, advisers, Public Body (including their advisers, representatives and officials), politicians and political parties.“Whistleblower”means the person making a disclosure or allegation against another of any concern related to any Misconduct that is relevant to the employment or contractual relationship with the Group.Valid from: 2022-12-01Page: 3 of 8
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Compliance Function means compliance with the relevant laws and regulations and instructions of the regulatory organization of Mongolia in the company's operations, fulfilling their legal requirements in a timely manner, as well as ensuring the prevention of MLTF, and other obligations under international agreements. to implement special regulations and to be free from conflicts of interest and adhere to the code of ethics;
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Compliance Function means an organ below the Corporate Secretary of Pertamina with duties to carry out development, fostering, application and upholding of Good Corporate Governance (GCG) principles;
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Compliance Function means a function that has the duty to develop, guide, implement and enforce the Good Corporate Governance (GCG) practices.
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Related to Compliance Function

  • School function means any school-sponsored extra-curricular event or activity.

  • critical functions means activities, services or operations the discontinuance of which is likely in one or more Member States, to lead to the disruption of services that are essential to the real economy or to disrupt financial stability due to the size, market share, external and internal interconnectedness, complexity or cross-border activities of an institution or group, with particular regard to the substitutability of those activities, services or operations;

  • Form, fit, and function data means technical data that describes the required overall physical, functional, and performance characteristics (along with the qualification requirements, if applicable) of an item, component, or process to the extent necessary to permit identification of physically and functionally interchangeable items.

  • Governmental function means an activity that is expressly or impliedly mandated or authorized by constitution, statute, local charter or ordinance, or other law. Governmental function includes an activity performed on public or private property by a sworn law enforcement officer within the scope of the law enforcement officer's authority, as directed or assigned by his or her public employer for the purpose of public safety.

  • Compliance Program means the program established by CNYCC to prevent, detect, and address compliance issues that arise with respect to PPS operations, projects or activities.

  • Essential job functions means the fundamental job duties of the employment position an individual holds. A job function may be considered essential if-

  • Safety-sensitive function means a job function or duty where a Covered Employee either:

  • Trustee Functions means the functions set out in paragraph 6;

  • Compliance Review means an inspection of the home, grounds, and files to determine compliance with these regulations.

  • Compliance Forester means the DNR staff person(s) identified in the Pre-Work Conference who perform the compliance inspections, approve Work, recommend payment to the Contract Manager, and manage the Work Schedule.

  • Essential functions means the fundamental job duties of the employment position the individual with a disability holds or desires. "Essential functions" does not include the marginal functions of the position.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Compliance Plan means the compliance obligations, program, and procedures described in this Consent Decree at paragraph 13.

  • Commercially Useful Function means responsibility for the execution of a distinct element of the work of the contract, which is carried out by actually performing, managing, and supervising the work involved, evidencing the responsibilities and risks of a business owner such as negotiating the terms of (sub)contracts, taking on a financial risk commensurate with the contract or its subcontract, responsibility for acquiring the appropriate lines of credit and/or loans, or fulfilling responsibilities as a joint venture partner as described in the joint venture agreement.

  • Compliance Report means, as applicable in relation to the test being conducted, a report containing the results of the Compliance Tests carried out by State Street.

  • Delegated Functions means a function of the Director or the Lord Chancellor delegated to you by an Authorisation;

  • Distribution Function means the functions with regard to:

  • Department compliance officer means an individual who is:

  • Compliance Order means an order issued by the Code Enforcement Officer pursuant to subdivision (a) of section 15 of this local law.

  • Servicing Function Participant Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Certificate Administrator, the Operating Advisor, the Master Servicer, the Special Servicer and the Trustee, that is performing activities that address the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans by unpaid principal balance calculated in accordance with the provisions of Regulation AB.

  • Reporting Servicer As defined in Section 11.13.

  • Safety compliance facility means a licensee that is a commercial entity that receives marihuana from a marihuana facility or registered primary caregiver, tests it for contaminants and for tetrahydrocannabinol and other cannabinoids, returns the test results, and may return the marihuana to the marihuana facility.

  • Day reporting means a program of enhanced supervision

  • Compliance Committee means the committee referenced under the Federated Code of Business Conduct and Ethics, consisting of, among others, the Chief Compliance Officer, the General Counsel, the Chief Audit Executive and the Chief Risk Officer.

  • StarCompliance Code of Ethics application means the web-based application used to electronically pre-clear personal securities transactions and file many of the reports required herein. The application can be accessed via the AB network at: https://alliance-ng.starcompliance.com/.

  • Monitoring and reporting requirements means one or more of