Guidelines for the Compliance Risk Management of Commercial Banks (4)
Source: CBRC View: 606 Date: 2011-05-16

Chapter IV Supervision over Compliance Risks


Article 26 A commercial bank shall report its internal regulations such as compliance policies, formalities for compliance management as well as compliance guidelines to China Banking Regulatory Commission for archival filing.

A commercial bank shall timely report its plans of compliance risk management and appraisal reports on compliance risks to China Banking Regulatory Commission.

Where a commercial bank finds any significant rule-breaking event, it shall report it to China Banking Regulatory Commission in accordance with the reporting system of significant events.

Article 27 Where a commercial bank designates a person-in-charge of compliance, it shall report it to China Banking Regulatory Commission in accordance with the related provisions. Where any person-in-charge of compliance of a commercial bank leaves his/her post, the bank shall report related information such as leaving reasons for resignation to China Banking Regulatory Commission within 10 workdays after leaving the post.

Article 28 China Banking Regulatory Commission shall conduct appraisal on the effectiveness of compliance risk management of commercial banks periodically and the appraisal reports shall be regarded as an important basis for classified supervision.

Article 29 China Banking Regulatory Commission shall, in accordance with the compliance records of commercial banks and the appraisal reports on compliance risk management, determine the frequency, scope and depth of on-the-spot compliance risk examination, and the contents shall be examined mainly include:

(1) The appropriateness and effectiveness of the compliance risk management system of a commercial bank;

(2) The functions of the board of directors and senior management of a commercial bank in the compliance risk management;

(3) The appropriateness and effectiveness of the performance examination system, the accountability system and the credit accusation system of a commercial bank; and

(4) The appropriateness and effectiveness of the functions of compliance management of a commercial bank.


Chapter V Supplementary Provisions


Article 30 The power to interpret these Guidelines shall remain with China Regulatory Banking Commission.

Article 31 These Guidelines shall enter into force as of the day of promulgation.

(All information published in this website is authentic in Chinese. English is provided for reference only. )
 

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