3[1]Basel Committee on Banking Supervision Consultative Document: 《The compliance function in banks 》( October2003).
4[2]Basel Committee on Banking Supervision Consultative Document:《 Framework for Internal Control Systems in Banking Organizations 》(September 1998).
5[3]Responsibilities of the board of directors for com pliance - Principle 1The bank's board of directors has the responsibility for overseeing the management of the bank 〈 scompli ance risk. The board should approve the bank compliance policy, including a charter or other formalocument establishing a permanent compliance function. At least once a year, the board or a committee of theboard should review the bank 〈 s compliance policy and its ongoing implementation to assess the extent towhich the bank is 6、Responsibilities of senior mangement for compliance - Priniciple 2The bank's senior management is responsible for es tablishing a compliance policy, ensuring that it is observed and reporting to the board of directors on its ongoing implementation. Senior management is also re sponsible for assessing whether the compliance policy is still appropriate.
6[4]Responsibilities of senior management for compliance - Principle 3The bank's senior management is responsible for es tablishing a permanent and effective compliance func tion within the bank as part of the bank's compliance policy.
7[5]Independence - Principle 5 The bank's compliance function should be independent from the business activities of the bank.
8[6]Role and responsibilities - Principle 6 The role of the bank's compliance function should be to identify, assess and monitor the compliance risks faced by the bank, and advise and report to senior management and the board of directors about these risks.
9[7]Principle 8 Staffexercising compliance responsibilities should have the necessary qualifications, experience and professional and personal qualities to enable them to carry out their duties effectively.
10Mark W. Olson,What are the Fed Examiners Looking for When They Examine Banks for Compliance,www.federalreserve. gov.
