As a responsible financial services group, the fairness and integrity of our practices are at the core of our relationship-building approach. Ensuring compliance with these principles is our responsibility towards our customers. It also helps us earn their trust and protects our Group’s reputation.
What is compliance?
Compliance means acting in accordance with provisions specific to banking and financial activities, whether they stem from legislation, regulations, or professional, ethical or internal standards.
Sharing a culture of compliance
Combating corruption and money laundering, preventing conflicts of interest and market abuse are all key areas of focus in our compliance policy.
Our Code of Conduct, translated into 22 languages and distributed to each of our employees worldwide, illustrates our culture of compliance. We aim to share the strong principles governing individual and collective behaviour, such as integrity, thoroughness, a sense of service and openness to the world. It also prevents conflicts of interest.
The Group has no tolerance for deliberate breaches of or the voluntary abstentions to the principles of the Code of Conduct. The failure to respect these rules, which are available in our internal regulations, can every year lead the Group to put in place penalties, according to the gravity of the facts, which can go as far as disciplinary dismissal.
Furthermore, our definition of compliance includes sharing and respecting the rules of good conduct that meet the highest standards of our profession. In particular, our employees are prohibited from the following:
- dealing with customers or suppliers whose activities operate counter to the ethical principles of our Group;
- providing information on products or services that is imprecise or likely to be misleading.
Relying on a dedicated organisation
Our compliance commitments are managed by an independent unit that operates, across our various businesses. The Group’s General Secretary is responsible for monitoring compliance at the Group level assisted by the Compliance Department and compliance managers across all our entities.
Preventing non-compliance risks
The Compliance Department ensures that the laws, rules and ethical principles specific to our banking and financial activities are observed, and looks after reputational risk. It is responsible for managing our Group’s reputation and also ensures that the rules of good conduct and personal integrity are correctly followed exercised by our staff.
Its actions are supported by the compliance managers within the central divisions and departments. Every month, the Group Compliance Committee meeting works to resolve any compliance problems.