In Europe, there is increasing regulatory burden for credit unions, with ever-changing rules and regulations originating from Brussels, Frankfurt and Basel, and in national legislatures. In some EU countries, credit union compliance departments/units are set up in response to the Regulators’ Rules of Good Corporate Governance, which cover all regulated financial market actors. In non-EU countries the situation is similar, with a myriad of growing national rules and regulations.
This Regional Credit Union Center (RCUC) and World Council of Credit Unions (WOCCU) compliance roundtable will provide credit unions with introductory training that highlights best practices in starting this responsive process. It will also feature discussions on the international standards on compliance management systems, with a focus on Basel Committee requirements, a new EU law on whistleblowing to be implemented by all EU-member nations by the end of 2021, and a rule of proportionality in relation to compliance officers’ activities at credit unions.
The webinar will feature presentations from:
• Andrius Urniežius, Compliance Officer, Jungtinė centrinė kredito unija (Lithuania)
• Piotr Pałka, PhD, Head of Compliance, National Association of Cooperative Savings and Credit Unions (Poland)