One of the main tasks of Compliance is to help ensure that BNP Paribas remains a trustworthy Bank, not only by complying with laws and regulations, but also by complying with the spirit of laws and regulations.
The Compliance function is evolving. Regulatory, geopolitical and societal changes place Compliance more and more at the crossroads of the strategy and everyday action of the bank and its customers.
Compliance also has to ensure the security of the Group, its business lines and territories, which implies adapting to the growing demands of regulators, customers and public opinion.
Know Your Customer (KYC)
The “Know Your Customer” (KYC) domain defines and maintains the Group policies related to client knowledge (identification and documentation, risk assessment, on-boarding decision process), supports and monitors their implementation in the Business Lines, and contributes to the operational efficiency of the KYC processes.
The “Group Financial Security” (GFS)
domain is a department divided into two teams, one located in Paris and the
other in NYC. GFS Paris is primarily responsible for the prevention of money
laundering and the fight against corruption
and terrorist financing, while the main role of GFS U.S. is to supervise and coordinate the Group’s
efforts to comply with U.S. and other international sanctions and embargoes.
*Group Financial Security
of Interests of Clients (PIC)
The mission of the « Protection of Interests of Clients » (PIC) domain is to make sure that BNP Paribas clients:
· are offered products and services that truly meet their needs
· are provided with clear and accurate information on product features, costs and risks.
In that purpose, the PIC domain is ensuring Compliance with complex and changing local regulations designed to protect the clients’ interests:
· throughout the duration of its relationship with the clients,
· throughout the life cycle of all products and services that BNP Paribas develops or sells.
PIC Compliance Officers work therefore with business lines to help them reinforce the primacy of clients' interests in their practices.
The “Market Integrity”
domain is committed to ensure the Group activities compliance with:
- the rules applicable to : circulation of confidential and privileged information and prevention of insider trading, operations on financial instruments, pre and post market transparency rules, prevention and detection of market abuse, detection and management of conflict-of-interest situation.
the rules governing the organisation and rules of conduct applicable to the Group as a producer of financial services and instruments.
Professsional Ethics deals
with to the professional behavior of the Group’s employees, in order to prevent
them from taking undue personal advantages from their professionnal position.
The Domain sets professional conduct rules and promotes a culture of probity,
aiming at protecting the Group and its employees specifically against the risks
of corruption, market abuse and conflicts of interests.