Dalle disposizioni per la tutela del risparmio alla funzione della Compliance
FROM ITALIAN BANKING LAW TO THE COMPLIANCE FUNCTION IN BANKS. So far, investors’ confidence in financial markets has been protected by non-compulsory rules, which are more and more complex. Nevertheless, these provisions have not safeguarded banks and the whole financial system from legal and reputational risks, which have followed the recent industrial and financial crises. The Basel Committee for Banking Supervision and the Bank of Italy strongly recommend banks to manage risks arising from non-compliance to laws, regulations, self-regulation systems and operational policy. This issue is a key factor for improving banks’ relationship with the Supervisory Authority, with financial markets and investors. As a consequence, the introduction of a compliance function in banks’ internal auditing system should not represent a mere accomplishment to rules. On the contrary, it should spring from banks’ will to create value for all their stakeholders
|Date of creation:||29 Jun 2007|
|Contact details of provider:|| Postal: Via Conservatorio 7, I-20122 Milan - Italy|
Phone: +39 02 50321522
Fax: +39 02 50321505
Web page: http://www.demm.unimi.it
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:mil:wpdepa:2007-27. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (DEMM Working Papers)
If references are entirely missing, you can add them using this form.