Basel Committee publishes paper on bank compliance
BASEL, SWITZERLAND --
The Basel Committee on Banking Supervision published a consultation paper in mid-October outlining basic guidance for banks on the structure and operation of their compliance function. It "sets out banking supervisors’ views on compliance in banking organisations".The paper, authored by the organisation’s Accounting Task Force, is titled The compliance function in banks. "Boards of directors and senior management should promote an organisational culture that ensures
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