Commission Delegated Regulation (EU) 2026/544 Article 3: Criteria for assessing whether the compliance function has the authority to discharge its responsibilities properly and independently

Article 3 - Criteria for assessing whether the compliance function has the authority to discharge its responsibilities properly and independently

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Article 3

Criteria for assessing whether the compliance function has the authority to discharge its responsibilities properly and independently

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The criteria for assessing whether the compliance function of an external reviewer has the authority to discharge its responsibilities properly and independently, as referred to in Article 29(2), point (a), of Regulation (EU) 2023/2631, shall be the following:

((a))

the management body of the external reviewer has adopted policies that enable the compliance function to:

((i))

assess adherence to laws, regulations and internal policies and procedures;

((ii))

carry out compliance activities objectively and effectively without undue influence;

((b))

at least one member of the compliance function:

((i))

is of a level of seniority that enables it to have direct access to decision-makers and challenge business decisions;

((ii))

participates in the structures of the external reviewer tasked with overseeing risk management and regulatory compliance to ensure that compliance considerations are incorporated into the strategy and decision-making procedures of the external reviewer.