The financial sectors are among the most regulated and controlled in the economic world. Observance of all the legal, regulatory and prudential requirements conditions the confidence of the public, clientele, employees and shareholders.

Dexia undertakes to observe the laws of the countries in which it has a presence and to ensure the adoption of integrated behaviour relative to the fulfilment of its financial activities.

Compliance Organisation

Dexia has an independent Compliance function which assesses the conformity of internal codes of conduct, policies and procedures to legal obligations and best practices applicable to its activities.

A Compliance Charter approved by the Dexia Executive Committee and Board of Directors specifies the organisation and all the fields covered by that function.

Reporting directly to the CEO of the Dexia Group, Chairman of the Dexia Management Board, the Chief Compliance Officer oversees a network of Compliance Officers active in each of the operational entities and subsidiaries of the Group.

With his counterparts, the Chief Compliance Officer updates internal policies and procedures on the basis of regulatory supervision. They inform and appraise managements and members of staff and monitor the observance of the internal rules in each of the Dexia entities.

Compliance and integrity

Dexia management has expressed its commitment to integrity through an Integrity policy which rests on the following principles:

• application of the same ethical and professional principles in all Dexia entities;
• observance of the laws and regulations and promotion of a climate of transparency;
• creation of confidential relations with clients, members of staff and shareholders;
• definition of a policy for the prevention of fraud or any other abuse of assets, systems, information or procedures;
• pursuit of integrated behaviour, in particular with regard to transactions or information on the financial markets.

Rules of good conduct for all members of staff in the Group are included in a "Code of Professional Ethics" and complete this policy. They contain the following principles:

• observance of legal and regulatory requirements professionalism and the duty of discretion
• reliability and respect for clientele
• loyalty to the Dexia Group
• mutual respect for people and opinions

Compliance and the Fight against Money Laundering and the Financing of Terrorism

As for the fight against money laundering and the financing of terrorism, Dexia has conceived and implemented a mechanism based on international standards, observing local rules and the requirements of the supervisory authorities for the Group’s international establishments.

The Dexia group undertakes to participate actively in the international initiatives in the fight against money laundering, terrorism and other criminal activities. Cf. General Principles in the Fight against Money Laundering and the Financing of Terrorism (PDF 26 Kb).

In the United States, the Dexia Group fulfils the requirements of the American authorities regarding the fight against terrorism and money laundering. Moreover, through the USA Patriot Act, it is required of foreign banks maintaining relations with an American bank or American broker/dealer that they obtain certification.

To learn more on global certification (52 Kb) published by Dexia and the list of Group branches and subsidiaries (46 Kb) covered by that certification.