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3. STRENGTHENING COMPLIANCE AND CONTROL PROCEDURES

In 2014, standard-setting arrangements were enhanced by several major texts that set out the Group’s rules and standards, notably in the field of financial security, the strengthening of Know Your Customer (KYC) rules and other Group counterparties and partners, along with the establishment of the system intended to ensure compliance with international financial sanctions, particularly those of US origin, which will continue in 2015 in conjunction with the authorities. In this same field, the various policies and procedures relating to compliance with new international sanctions or changes thereto; more generally, all Compliance policies and procedures relating to international sanctions were reviewed and updated, where appropriate, such as the update to the ethical alert procedure.

4. EMPHASIS ON TRAINING

In terms of training, a substantial effort was made throughout the Group, using multiple channels (eg online training, which was compulsory for employees exposed to risks in this area, distribution of a guide, etc.) with a view to raising awareness among the relevant employees of the significance and main characteristics of international financial sanctions.

5. ESTABLISHING AN ETHICS COMMITTEE

Another major development in terms of the internal control system was the creation of an Ethics Committee announced on 31 July 2014. This Committee’s main task will be to make recommendations regarding BNP Paribas’ activities in sensitive countries and sectors, as well as the Group’s Code of Conduct, which is set to be strengthened. It is made up of BNP Paribas Executive Committee members and external, independent personalities. Jean-Marie Guéhenno, president of the International Crisis Group, agreed to be the Ethics Committee’s chairman.

Photo : JEAN-MARIE GUÉHENNO.

JEAN-MARIE GUÉHENNO, CHAIRMAN OF THE INTERNATIONAL CRISIS GROUP

“Ethics must now be an essential dimension of economic life and I am happy to be able to contribute to strengthening this dimension within a bank with European leadership.”

Photo : JULIA MARTON-LEFÈVRE.

JULIA MARTON-LEFÈVRE, FORMER CHIEF EXECUTIVE OFFICER OF THE INTERNATIONAL UNION FOR CONSERVATION OF NATURE (IUCN)

“I admire the decision taken by BNP Paribas to create an Ethics Committee and I look forward to taking part in free and frank discussions on issues that affect not only the banking sector but humanity as a whole.”

Photo : ANTOON VANDEVELDE.

ANTOON VANDEVELDE, PROFESSOR OF ETHICS AND POLITICAL PHILOSOPHY, KU LEUVEN, BELGIUM

“I agreed to join the BNP Paribas Ethics Committee because I am convinced that a strong, ethical banking sector is of critical importance to the stability of the financial system in general.”