Compliance

Compliance - means the scope of a detailed structure, thanks to which there will be no broadly understood irregularities in its functioning.

1. Internal Control Systems

The Compliance and Risk Department has been operating within the organizational structure of the WSE since 2015. The Department's tasks include:

• monitoring, assessment and analysis of the risk of non-compliance of the company's operations with legal regulations, guidelines of supervisory authorities, internal regulations and standards,
• coordinating the process of creating, implementing and updating internal regulations in the company,
• monitoring compliance with the principles adopted in internal regulations in the field of compliance management,
• checking compliance of organizational units with the company's internal decisions and regulations,
• employee training.

2. Compliance management at the GPW Group

The purpose of compliance management at the GPW is to ensure that GPW complies with the law, internal regulations and adopted standards, in particular:

• preventing the WSE from engaging in illegal activities,
• improving the quality of internal regulations by identifying gaps and non-compliance with the law,
• building awareness among employees regarding compliance risks,
• the WSE compliance management system is a set of processes, organizational solutions and documented rules related to ensuring compliance of GPW operations with laws, regulations and accepted ethical standards and codes of conduct, as well as with compliance risk management.

3. The risk management structure at GPW

   

4. Supervising compliance of operations with the law (Compliance area)

The compliance oversight system adopted at the GPW is adequate and effective and ensures an adequate level of compliance risk monitoring at the stock exchange. Carried out in the reporting period:

• assessment of compliance of the scope of internal regulations with the detailed requirements set out in law, guidelines of supervisory authorities and standards,
• self-assessment of compliance with art. 48 of Directive 2014/65 / EU, referred to in art. 2 of Commission Delegated Regulation (EU) 2017/584 of 14 July 2016 supplementing Directive 2014/65 / EU of the European Parliament and of the Council with regard to regulatory technical standards specifying organizational requirements for trading venues,
• internal controls,

have not demonstrated the GPW's lack of compliance with legal provisions, supervisory guidelines and standards. In the audited period, there were no significant incidents in the area of compliance that would result in legal sanctions, financial losses or loss of reputation as a result of non-compliance or violation of law by the GPW.

5. Main activities in 2019

The key actions taken in 2019 included:

• regulatory gap analysis, including mapping of the law and standards to internal regulations, compliance risk management and taking measures to minimize this risk,
• giving opinions on internal regulations,
• supervision over consideration of complaints and applications,
• supervision over compliance with ethical principles,
• supervision of the infringement reporting process,
• supervision over compliance with the principles of employees' own transactions and the rules of accepting and giving presents by employees,
• coordination of activities related to conflict of interest management,
• managing and updating the list of managers and those closely associated with them: statements, information materials, notifications,
• managing a list of persons having access to confidential information, statements,
• preparing reports for internal needs,
• carrying out internal controls,
• internal trainings.