ORIGIN, DUTIES, AND RESPONSIBILITIES OF THE REGULATORY COMPLIANCE UNITS IN INSTITUTIONS SUPERVISED BY THE NATIONAL COMMISSION OF BANKS AND INSURANCE (CNBS) OF HONDURAS

Abstract

In this article you can learn about the origin, duties and responsibilities of the “Regulatory Compliance Units” in the institutions supervised by the National Commission of Banks and Insurance (CNBS), institution in the Republic of Honduras that monitors, supervises and regulates, among other faculties, the financial, banking, insurance, public and private forecasting system. And it’s by virtue of its delicate functions and duties, and that they are currently oriented towards risk-based supervision, the reasons that have motivated the CNBS to issue the corresponding regulations in which it requires the institutions it supervises to establish the “Regulatory Compliance Units”, focused on mitigating compliance risk; Therefore, the technical-legal origin of this figure has been analyzed, as well as its specific duties and responsibilities, concluding that the mentioned Unit must have a leading role within the organization, in order to mitigate the risk of the lack of regulatory compliance, which is of utmost importance to know how to identify the location of the Unit in the organization chart of each institution.