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Commercial Bank Compliance Management Guidelines
Article 17: Whistleblower Protection and Credit Reporting System
To ensure the integrity and transparency of its operations, a commercial bank is required to establish a credit accusation system that encourages staff members to report illegal acts, violations of professional integrity, or suspicious activities. The bank shall fully protect any whistleblower from retaliation or unfair treatment.
Chapter III: Functions and Duties of Compliance Management Department
Article 18: Responsibilities of Compliance Management Department
The compliance management department is responsible for assisting senior management in identifying and managing compliance risks. Its key functions include:
- Monitoring the latest developments in relevant laws, rules, and standards to provide guidance on compliance matters
- Developing and implementing compliance risk management plans, including policy implementation, risk assessment, testing, training, and education
- Reviewing and revising policies, formalities, and operational guidelines to ensure compliance with relevant laws, rules, and standards
- Providing internal communication channels for staff members to report compliance-related issues
- Collaborating with the risk management department to manage compliance risks
Article 19: Reporting Requirements
The compliance management department shall report its activities, plans, and findings to senior management and regulatory authorities in a timely manner.
Chapter IV: Supervision over Compliance Risks
Article 26: Filing of Internal Regulations
Commercial banks are required to file their internal regulations, including compliance policies, formalities for compliance management, and guidelines with China Banking Regulatory Commission.
Article 27: Reporting Requirements
Commercial banks shall report significant rule-breaking events, changes in compliance personnel, and other relevant information to China Banking Regulatory Commission.
Chapter V: Supplementary Provisions
Article 30: Interpretation of Guidelines
The power to interpret these guidelines remains with China Banking Regulatory Commission.
Effective Date
These guidelines take effect as of the date of promulgation.