Heads of compliance and/or internal audit functions must promptly report to the Central Bank violations of the Central Bank Law, regulations, instructions and any Matters of Significance. Heads of compliance and internal audit making such reports in good faith shall not be considered to have breached any of their obligations.
Banks must promptly notify the Central Bank in case of resignation of their heads of compliance or internal audit and the reasons thereof, as well as obtain the no-objection of the Central Bank before their replacement or dismissal.
Banks must also promptly notify the Central Bank when they become aware of a significant deviation from their Board-approved compliance policies and internal audit charters.