风险管理与合规课件

RiskManagementand

RegulatoryCompliance

风险管理与合规

AsiaPacificFinanceandDevelopmentCenter

亚太财经与发展中心

WorldBankInstitute

AlexVanderpolJune19,2008Complianceadvisesoncompliancerisk

合规对合规风险提出建议Complianceriskistheriskof:

legalorregulatorysanctions,

materialfinancialloss,or

harmtoreputation

thatabankmaysufferasaresultofitsfailuretocomplywithrelevantlaws,regulations,principlesandrules,standardsandcodesofconductapplicabletoitsactivities,inletterandinspirit.合规风险是指，由于未遵照适用于公司活动的相关法律、法规、原则、法则、行为规范与准则，公司可能会遭受法律或法规的制裁，物质上的财务损失，或者使声誉受损的风险。

Provideadvisoryandobjectivesupport

提供咨询和客观支持Alignwiththebusinessandhelpprovideindependentviewandadviceontheexecutionofstrategyandoncase-specificissues

根据公司业务，提供有关战略执行和具体案例方面的独立观点和建议Understandstrategyandbusinessandapplythisunderstandinginitsrisk-basedapproachtoensurethatproportionatemeasuresaretakentocomplianceissuesandrisk

理解公司战略和业务，并将这一理解应用于基于风险的方法，以此确保对合规问题和合规风险已采取了适当的措施Implementbusinessspecificlawsandregulations

实施与业务相关的法律法规Provideguidanceandsupportonissuesrelatedtolawsandregulations

对与法律法规相关的问题提供指导与支持Monitortheexecutionofinitiativesandensureallactivitiesarecompliantwithrelevantpoliciesandprocedures

监控倡议的执行情况，确保所有活动都遵照相关政策和程序Assistmanagementinmanagingrisktothebusiness

协助管理层管理业务风险AssistManagementinidentifying,measuringandmitigatingcompliancerelatedrisk

协助管理层发现、测量并减少合规风险Partnerwiththebusinessinmonitoringlevelofriskstohelpachievesuccessfulimplementationofstrategicinitiatives

和业务一起监控风险水平，帮助公司成功实施战略倡议Complianceprovidesacentralroleinmonitoringdeliveryandminimisingrisk合规在监控公司行为和使风险最小化上扮演着重要作用KeyComplianceAreas:

关键的合规领域：III.MarketConduct

市场行为I.ClientAcceptanceandAnti-MoneyLaunderingPolicy

客户接受度与反洗钱政策(CAAML)II.DealingwithCustomers

与客户打交道ClientAcceptanceandAnti-MoneyLaundering客户接受度与反洗钱Sanctions

制裁ConflictsofInterest

利益冲突ChineseWalls

中国墙MarketAbuse

市场滥用IV.OtherCompliancetopics

其他合规话题PersonalAccountDealingPolicy

个人账户处理政策GiftPolicy/BriberyandCorruption

送礼政策/贿赂与腐败

Whistleblowing

揭发WhenyouneedtoNotifyCompliance

何时需注意合规Confidentiality

机密性Communication&Marketing沟通与营销

ClientClassification

客户分类Suitability

适宜Appropriateness得当Recordkeeping

档案保管I.ClientAcceptanceandAnti-MoneyLaundering(CAAML)Policy

客户接受度与反洗钱政策KYCKnowYourCustomer

了解你的客户ClientAcceptance/DueDiligence

客户接受度/尽职调查MoneyLaundering&TerroristFinancing

洗钱与恐怖份子筹资活动Sanction

制裁IdentificationVerificationRiskAssessmentTransactionSurveillanceRiskRe-assessmentReviewRelationshipAMLRISK

反洗钱风险Geography

地域Industry

行业Product

产品ClientlifeCycle客户的生命周期Exit?退出？231InitialRisk

Assessment:ClientAcceptanceAndKnowYourCustomer初始风险评估：客户接受度，了解你的客户OngoingRiskAssessment:进行中的风险评估：Anti-MoneyLaunderingCAAML/Sanctions反洗钱/制裁PeriodicalRiskRe-assessment(orchangeinclientprofile/incidental)定期风险再评估（或客户情况/附带事件的变化）交易监测风险评估核实识别风险再评估关系考察MoneyLaundering&TerroristFinancing

洗钱及恐怖分子筹资活动“MoneyLaundering”istheintroductionofillegallygainedassetsintothelegalfinancialsystemwiththeaimofconcealingordisguisingtheirtrueorigin.“洗钱”是将非法获得的资产融入合法的金融体系中，目的在于隐瞒或者掩饰它们的真实来源。MoneyLaunderinggenerallytakesplacein3steps:洗钱活动一般分三步进行：Placement

放置“theintroductionofillegallygainedassetsintothelegalfinancialsystemwiththeaimofconcealingordisguisingtheirtrueorigin.”

将非法获得的资产融入合法的金融体系中，目的在于隐瞒或者掩饰它们的真实来源Layering

移转“thesourceoftheillegallyobtainedfundsisobscuredthroughasuccessionoftransfersandtransactionstogivethemappearanceoflegitimacy”

通过连续转移和交易将非法获得的资金的来源模糊化，使它们看起来合法Integration

整合“Inorderthatthosesamefundscaneventuallybemadetore-appearaslegitimateincome.”

使这些资金最终以合法收入的身份再次出现ExamplesofothersourcesforMoneyLaundering&TerroristFinancing

洗钱及恐怖分子筹资的其他来源举例Drugs

毒品Prostitution

卖淫IllegalWorkers(Humantrafficking)

非法劳工（贩卖人口）Fraud

欺骗Theft

偷窃Smugglinggoodsand/orarms

走私商品/武器

TaxFraud

税务行骗CounterfeitingCurrency

伪钞Kidnapping

绑架Extortion

敲诈勒索IllegalGambling

非法赌博EnvironmentalCrimes

环境犯罪Sanctions

制裁Twomajorfinancialmarkets,theEUandtheUS,applyeconomicsanctionsincertaincasesagainstparticularcountriestosupporttheirforeignpolicyobjectives.

在某些情况下，欧盟和美国两大金融市场对特定国家实施经济制裁来支持其外交政策ViolatingEUorUSsanctionlawscanputabank’scustomersatriskofincompletetransactions,frozenassetsorcriminalandcivilpenaltiesandexposeourbank/employeestoliability.

违反欧盟或美国的制裁法会将一家银行的客户置于不完全交易、冻结资产或者刑事和民事处罚的风险之中，使银行/雇员承受债务ParticularvigilanceisneededwhenatransactioncontainsasocalledCSI(CubanSudaneseorIranian)element.

当一个交易牵涉所谓的CSI（古巴、苏丹或伊朗）时，需要特别警惕VigilanceisalsoneededwhendealingwithMyanmar.

和缅甸打交道时也要非常注意II.DealingwithCustomers

与客户打交道Confidentiality

机密性ClientClassification

客户分类SuitabilityofAdvice

建议的适宜性Appropriateness

适当MarketingCommunication

营销沟通RecordKeeping

档案保管Confidentiality

机密性Whatinformationisconfidential?

哪些信息是机密的？Allinformationrelatedtoabankthathasnotbeenmadepublic

(includinginternalmemos,policies,creditapplications,employeeandsupplierdata)

所有与银行相关的未公开的信息（包括内部备忘录、政策、员工及供应商资料）Allnon-publicinformationaboutexistingandprospectiveclients

所有有关现有和潜在客户的非公开信息

Confidentialityandcommonsense

机密性与常识Becarefulwithconfidentialdocumentsinpublicplaces(sameappliestolaptops)公共场合注意机密文档的处理（同样适用于笔记本电脑）Becarefulwithconversationswhileinthepresenceofothers(alsoonmobilephones)有他人在场时（手机接听电话时）注意谈话内容的保密Clearyourdeskattheendofyourworkingdayofanysensitivedocuments工作日结束时注意清理桌面上的任何机密文档Nevershareyouruser-idandpasswordwithothers不要和他人共用你的用户名和密码MiFIDhighestimpactareasforABNAMRO

MiFID对荷兰银行施加的最高影响领域ClientClassification:Determinestheclientslevelofinvestmentprotection.客户分类：决定投资保护的客户水平BestExecution:Gettingtheclientthebestresultwhichcouldbeacombinationofprice/cost/speedofexecution,etc…最佳执行：为客户获得最佳结果，可能是价格、成本、执行速度等的组合MarketingandCommunication:Mustbeclear,fairandnotmisleading.营销与沟通：必须清楚、公正、不具误导性Appropriateness:(NonadvisedServices)Makingsure(bycarefullyrecording)thattheclientunderstandstheproductsandtherelatedrisks适当性：（非咨询的服务）（通过仔细记录）确保客户明白产品及相关风险Suitability:Advisetheclient’whatsuitstheclientsbestinterestsgiventheir:适宜性：向客户建议什么是最适合他们的最佳利益的，依据：Investmentpurpose

投资目的Assets

资产Income

收入Riskappetite

风险喜好MiFIDClassification:Whattypesofclientsdowedealwith?Andwhyisitimportanttoclassifythem?

MiFID分类：我们与哪些类型的客户打交道？为什么客户分类很重要Sizeandexperience规模和经验LevelofProtection

保护水平LargeCompanies大公司SmallCompanies小公司RegulatedFirms规管公司Individuals个人Retail零售Professional专业Eligiblecounterparty符合条件的对手Terminology

术语Suitability适宜度Appropriateness合适度NonAdvisedServices

非咨询服务AdvisoryServices咨询服务Doeseachtransactionmeettheclient’sobjectivesandriskprofile?每次交易都达到了客户的目标和风险概况了吗？Doestheclientunderstandtherisksoftheproductsbeingsold?客户明白出售的产品的风险吗？Whatifitisnotappropriateandtheclientinsists?

如果不合适而客户却坚持己见，怎么办？Canyoudeal?

这个交易你能做吗？Yes,solongaswrittenwarningisprovided可以，只要有书面警告Suitability

适宜度Whatisadvice?

咨询建议是指？Personalrecommendationthatisadviceoninvestments(e.g.buy/sell/hold)对投资的个人建议（如购买、抛售、持有）Presentedassuitablefortheperson;or

适合于个人的，或者Basedonaconsiderationofthecircumstancesoftheperson基于对个人请况的综合考虑的Wheretheclientcanreasonablyassumeitisarecommendation

客户能将之当作建议的Suitability

适宜度AdvisoryDiscretionary咨询酌情考虑Owedtoalladvisoryclients

归功于所有咨询客户Appropriateness合适度NonAdvisedServices

非咨询服务SuitabilityofAdvice

建议的适宜度Abankmayonlygive:银行可能会给出：-investmentadvicetoaclientor

投资建议，或者-effectadiscretionaryinvestmenttransaction影响任意的投资交易whenthisis“suitable”giventheclient’sneedsandpersonalcircumstances.只在这些建议适合客户的需求和个人情况时Suitabilitymustbeassessedbasedon:

适宜度需根据以下条件来评估：theinformationdisclosedbytheclient,and/or

客户透露的信息，和/或clientinformationthebankreasonablyshouldhavebeenawareof.银行应该注意到的客户信息Incaseofnonadviceforaclient,nosuitabilitycheckneedstotakeplace.如果对客户没有做出任何建议，不需检查其适宜度Isthisadvice?

这是建议吗？Wehaveanumberofmarketprotectionstructuredproducts.Thesecangivetheupsidepotentialwithoutthedownsiderisk.ShallIsendsometermsheetsthrough?我们有一些保护收益的结构性理财产品。他们都具有成长潜力，没有下跌风险。给您一些资料单行吗？Nonadvice非建议Advice建议Inviewofyourcurrentportfolioandriskappetite,Ithinkthemostappropriateinvestmentwouldbeoneofourmarketprotectionstructuredproducts.Thesecangivetheupsidepotentialwithoutthedownsiderisk.IntermsofyourcurrentallocationsIreckonthat50-60mwouldeffecttheshiftinfrontierthatyouwant.鉴于您目前的投资组合和您的风险喜好，我认为最适合的投资是我们的保护收益的结构性产品。他们能保持成长潜力，而没有下跌风险。您目前的配置方面，我想5000-6000万会得到您想要的最佳收益。Nonadvice非建议Advice建议III.MarketConduct

市场行为ConflictsofInterest

利益冲突ChineseWalls

中国墙ControlRoom

控制室MarketAbuse

市场滥用ConflictsofInterest

利益冲突Forexample:例如：personal/bankinterest

个人利益/银行利益bankinterests/clientsinterest

银行利益/客户利益-betweenclients

客户之间的利益Manageconflictsofinterestproperly

妥善管理利益冲突Betransparentandreportinternally

透明化，内部汇报Reallocateresponsibilities重新分配职责Informclient/askconsentifappropriate

如果适当，告知客户/征得客户的同意ChineseWalls

中国墙

WhatareChineseWalls?

什么是中国墙？Barrierscreatedtorestrictorpreventmovementofinformationwithinthebank,tohelpmanageconflictsofinterestandprotecttheconfidentialityofclientinformation.为限制或防止信息在银行内流通而制造的障碍，帮助管理利益冲突，保护客户信息的机密性Whatdotheylooklike?

特征？physical

物理上organisational

组织上procedural

程序上operational

操作上

ChineseWalls

Privatevs.Publicside(Continued)

中国墙：私人方面VS.公共方面（续）CommercialClients商业客户GlobalClients全球客户GlobalMarketsStructuredFinance全球市场结构性金融TransactionBanking交易ChineseWallGlobalMarketsSales/Trading全球市场销售/交易GlobalMarketsResearch全球市场研究PrivateSide

私人方面PublicSide

公共方面InformationBarrier信息障碍ChineseWalls (Continued)

中国墙（续）Inaddition,ChineseWallsallow:

此外，中国墙允许：somedefenceagainstallegationsofmisconduct

为不良行为辩护maximisationofbusinessopportunitiesacrossproductlinesby

allowingustoperformmanydifferentrolesatthesametime

通过允许我们同时负责多种不同的职责来使各个产品线间的商业机会最大化Examples:

举例:CorporateFinanceadviseslistedcompanyondivestmentofsubsidiary

公司金融部对上市公司分拆子公司提供建议AcquisitionFinanceadvisesthreedifferentbidders收购金融部建议有三个不同的投标人CreditPortfolioManagementassessesdebtcapacityforfourthbidder信贷组合管理部评估第四个投标人的债务能力ProprietaryTradingintradinginthestocksofthelistedcompany专有交易部对上市公司股票交易提供建议PrivateClientsinprovidinginvestmentadviceonthelistedcompany

私人客户部提供上市公司的投资建议ControlRooms

控制室AControlRoom’smainfunctions:

控制室的主要功能：Maintainingglobalmarketingandwatchlists维持全球营销和观察清单Maintainingglobalrestrictedtradinglists维持全球限制交易清单Identifyingpotentialconflictsofinterest识别潜在的利益冲突Clearing/recordingChineseWallcrossingsandregisteringInsiders理清/记录中国墙间的交叉，登记内部知情人Pre-clearanceofequityandfixed-incomeresearch提前弄清楚股权和固定收益研究Pre-clearanceofcertaintransactions预先清除某些交易MarketAbuse:MarketManipulation

市场滥用：市场操纵Spreadingfalseormisleadinginformationaboutthemarket,

orthepriceorvalueofaninvestment

E.g.spreadingarumourandfalseormisleadingnewsthroughinternet散布错误的或者误导性的有关市场、投资价格或价值的信息

例如：通过英特网散布谣言或虚假新闻Actingpurelytoinfluencethepriceoffinancialinstruments

E.g.manipulatingthepriceattheclosingofmarkets

manipulatingthepriceupwardtoshowahigherportfoliovalue

(usuallyaroundmonth-,quarter-,oryear-end)

纯粹为影响金融工具的价格的行为例如：操纵股市收盘价操纵价格的上升，显示更高的投资组合价值（一般在月末、季度末或年末时）Doingtransactionsthatcreatetheimpressionofgreatersupplyand/ordemandthanexistsinreality

E.g.doingtradeswithnoeconomicbasis,undertakensimplytogive

theillusionofactivity(manipulationofvolume)做交易以制造比实际更大的供给和/或需求的印象例如：做没有经济基础的股票买卖，仅仅是为了给予活动频繁的假象（操纵交易量）MarketAbuse:Insiderdealing

市场滥用：内幕交易Insideinformationisinformationthatis:

内幕信息是指：Precise

(aboutaneventorcircumstancesthathaveoccurredorcanreasonablybeexpectedtooccur)准确（关于已发生的，或者预计很可能发生的事件或情况的准确信息）Notgenerallyavailable/Notobtainablebyanalysisorresearch通常无法获得/不能通过分析或研究获得Ifitweremadepublic,itwouldprobablyaffectthepriceorvalue

ofthecompany/industrysectorinvolved如果公之于众，很可能会影响有关公司/行业的价格或价值Itincludesinformationwhichcouldrelateto:它包括有关以下几方面的信息：Issuersoffinancialinstruments

金融工具的发行者Transferablesecurities

可转让证券Commoditiesor商品或者ClientOrders

客户订单MarketAbuse:Insiderdealing(Continued)

市场滥用：内幕交易（续）Anyoneinthepossessionofinsideinformationmaynot:任何拥有内部信息的人不可以：Mustnotimproperlypasstheinsideinformationontosomeoneelse

不能将内部信息不当地传达给他人Buyorsellfinancialinstrumentsofissuersforyourownorabankseconomicadvantage为自己或者银行的经济利益购买或销售发行人的金融工具Recommendorinduceanotherpersontodoeitheroftheabove建议或者劝诱他人做以上任一件事情OtherCompliancetopics

其它合规问题PersonalAccountDealingPolicy个人账户交易政策GiftPolicy

礼品政策BriberyandCorruption

贿赂与腐败

Whistleblowing

检举揭发

PersonalAccountDealingPolicy

个人账户交易政策Why?原因?

Buyingorsellingsecuritieswhileinthepossessionofconfidentialpricesensitiveinformation(insideinformation)isacriminaloffenceinmostjurisdictions.在很多辖区,在掌握机密的价格信息(内部信息)的情况下买卖证券构成犯罪行为。Takingadvantageofinformationthatanemployeegetsintheperformanceofhisorherdutiesinabankforpersonalgainisunacceptable.

银行员工利用职务之便获取私利是违法行为。The

appearance

ofinsidertradingmustalsobeavoided.必须避免内幕交易的现象。Disclosureandtransparency信息披露和透明度Allsecuritiesaccountsofstaffandtheirconnectedparties

mustbedisclosed.

所有员工及关联方的证券账户信息必须披露。Abankmustbeabletomonitortransactions

againstsubmittedrequestsforapproval.

银行必须能够按照提交的审批需求对交易进行监督。

Pre-Approval,MinimumHoldingPeriod,RestrictedTradingLists事先批准，最短持有期，限制交易名单StaffMembersandconnectedpartiesmustaskpre-approvalfromtheir

line-managerand/orCompliancedepartments.

员工及其关联方必须得到直线经理/合规部门的事先批准。Transactionsmayonlybereversedafter28dayshaveelapsed

(28dayholdingperiod).

超过28天方可进行回购。（28天持有期）Mutualfundsarenotboundtothe28dayholdingperiodbutintradaytrading(24hours)isneverpermitted共同基金不受28天持有期的限制，但严禁日间（24小时）交易。Therecanbetradingdoneinsecuritiesonrestrictedtradinglists列入限制交易名单里的证券交易也可以进行。Acceptanceofgifts

礼品接受Giftsorlegaciesmustnotbeacceptedfrom

customersorsuppliers.禁止收取客户或供应商赠送的礼品或遗赠品。Excessiveorabnormalentertainmentmustalsobeviewedinthislight.禁止超常或非正常招待活动。Ifagiftcannotberefusedorreturned,itmaybeacceptedprovidedthatitis:

如果礼品无法拒收或退还，在下列情况下可以接收：notintheformofcash非现金形式notgivenintheexpectationofapayback

无获取回报的目的ofnominalvalueonly仅有票面价值

GiftPolicy

礼品政策Presentationofgifts

礼品赠送Giftstocustomers,suppliers,governmentofficials

orintermediariesmustnotbepresentedasawayofgainingeconomicorpoliticaladvantage.不能为获取经济利益或政治利益而向客户、供应商、政府官员或中介机构赠送礼物。Asanexception,giftsofnominalvaluemaybepresented:例外情况：具有票面价值的礼品可以作为asacourtesy

礼尚往来forpromotionalpurposes

宣传用途specialoccasionswherea“Bank”giftmaybeappropriate

特殊场合，“银行”礼物比较适合的情况下赠送。

GiftPolicy礼品政策(Continued)（续）Bribery

行贿Briberyisdefinedas:行贿的定义是offering

送礼suggesting

行贿暗示paying

给予他人财物orauthorising

或授权他人从事上述行为apaymenttosomeonefortheiroranother’spersonalgainwiththeintentioneithertomotivateactiveorpassivedeviationfromadutyortosecuretheperformanceofaduty.

行贿是指出于让他人履行职责或使他人主动或被动违背职守的目的，以谋取个人不正当利益而给予他人财物的行为。Corruption

腐败EffectsofCorruptiononBusiness腐败对商业活动的影响Causesdamagetoreputation,which,inturn,causeslossofconfidenceinthemarket

损害企业形象，从而导致市场信心下降Increasesuncertaintyinbusiness不确定因素增多Increasescosts

成本升高Hampersinternationaltrade

阻碍国际贸易Reducesinvestment投资减少WhistleblowingPolicy检举政策Whatthispolicydoes?

此政策的目的？Ensurethatallstaffcanwhistleblow(evenanonymously),on(suspected)criminalorunethicalconduct

确保所有员工可检举（即使