art_16__para_2__para

The compliance manager referred to in the first subparagraph shall regularly report to the management body in its management function of the parent undertaking on the implementation of the group-wide policies, procedures and controls. At a minimum, the compliance manager shall submit once a year a report on the implementation of the obliged entity’s internal policies, procedures and controls and shall take the necessary actions to remedy in a timely manner any deficiencies identified. Where the management body in its management function is a body collectively responsible for its decisions, the compliance manager shall assist and advise it, and shall prepare the decisions necessary for the implementation of this Article.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.