COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS
This article refers to the principles formulated by the Basel Committee on the organization and role of the compliance function within ban-king financial institutions. Also, the provisions of the national financial legislation and the manner in which the proposa...
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| Format: | Article |
| Language: | English |
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Academy of the Economic Studies of Moldova
2019-04-01
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| Series: | Economica |
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| Online Access: | http://irek.ase.md/xmlui/bitstream/handle/1234567890/12/Dermengi%20D._%20ec_2019_4.pdf?sequence=1&isAllowed=y |
| _version_ | 1811269796841390080 |
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| author | Daniela DERMENGI |
| author_facet | Daniela DERMENGI |
| author_sort | Daniela DERMENGI |
| collection | DOAJ |
| description | This article refers to the principles formulated by the Basel Committee on the organization and role of the compliance function within ban-king financial institutions. Also, the provisions of the national financial legislation and the manner in which the proposals of the Basel Committee were reflected in the local regulatory framework are analysed. The compliance with the Basel III standards is the main challenge for the national banking system, and the main normative acts for implementing the standards show that the National Bank of Moldova has adopted all the principles imposed by the Basel Committee, regarding the compliance function. Some provisions of the legislative acts issued by the NBM are even a word-by-word account of the Basel principles. |
| first_indexed | 2024-04-12T21:49:36Z |
| format | Article |
| id | doaj.art-395f262b50a04fc8a77300e11dbd84f4 |
| institution | Directory Open Access Journal |
| issn | 1810-9136 1810-9136 |
| language | English |
| last_indexed | 2024-04-12T21:49:36Z |
| publishDate | 2019-04-01 |
| publisher | Academy of the Economic Studies of Moldova |
| record_format | Article |
| series | Economica |
| spelling | doaj.art-395f262b50a04fc8a77300e11dbd84f42022-12-22T03:15:32ZengAcademy of the Economic Studies of MoldovaEconomica1810-91361810-91362019-04-01411097107COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONSDaniela DERMENGI0ASEMThis article refers to the principles formulated by the Basel Committee on the organization and role of the compliance function within ban-king financial institutions. Also, the provisions of the national financial legislation and the manner in which the proposals of the Basel Committee were reflected in the local regulatory framework are analysed. The compliance with the Basel III standards is the main challenge for the national banking system, and the main normative acts for implementing the standards show that the National Bank of Moldova has adopted all the principles imposed by the Basel Committee, regarding the compliance function. Some provisions of the legislative acts issued by the NBM are even a word-by-word account of the Basel principles.http://irek.ase.md/xmlui/bitstream/handle/1234567890/12/Dermengi%20D._%20ec_2019_4.pdf?sequence=1&isAllowed=ybasel iiiinternal controlcompliance functionlegislative frameworkrisk management |
| spellingShingle | Daniela DERMENGI COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS Economica basel iii internal control compliance function legislative framework risk management |
| title | COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS |
| title_full | COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS |
| title_fullStr | COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS |
| title_full_unstemmed | COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS |
| title_short | COMPLIANCE FUNCTION PRINCIPLES IN THE FINANCIAL BANKING INSTITUTIONS |
| title_sort | compliance function principles in the financial banking institutions |
| topic | basel iii internal control compliance function legislative framework risk management |
| url | http://irek.ase.md/xmlui/bitstream/handle/1234567890/12/Dermengi%20D._%20ec_2019_4.pdf?sequence=1&isAllowed=y |
| work_keys_str_mv | AT danieladermengi compliancefunctionprinciplesinthefinancialbankinginstitutions |