Compliance Management System Sample Clauses
A Compliance Management System clause requires an organization to establish and maintain formal processes and procedures to ensure adherence to applicable laws, regulations, and internal policies. Typically, this involves implementing regular monitoring, employee training, and reporting mechanisms to identify and address compliance risks. The core function of this clause is to promote a culture of compliance, reduce the risk of legal violations, and demonstrate due diligence in regulatory matters.
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Compliance Management System. EFS will maintain a compliance risk management system, including appropriate and necessary internal controls designed to reasonably ensure that all EFS duties, obligations, and services provided pursuant to the Program, and the actions of any Distributors or Franchisees participating in the Program, will be in compliance with Applicable Law, and conform to the standards set forth in the Agreement. The Program will be substantially in its current form, modified as reasonably requested by Bank, to ensure compliance with Applicable Law.
Compliance Management System. Mortgage Broker certifies that it maintains an effective quality control program and Compliance Management System (“CMS”) designed to prevent violations of federal consumer financial law, and associated consumerharm. Mortgage Broker shall make available, upon the request of Lender: (a) copies of Mortgage Broker written policies, procedures, internal controls and training materials relative to Mortgage Broker employees and/or agents that have consumer contact and/or any consumer compliance responsibilities in connection with residential mortgage loan origination; and, (b) permit First Community Mortgage Inc. access, during normal business hours, to the offices of Mortgage Broker in order that First Community Mortgage Inc. may make appropriate on-site reviews, as necessary to confirm the propriety and effectiveness of Broker CMS, including an examination of Mortgage Broker internal controls and procedures that are designed to protect against a violation of federal consumer financial law and/or consumer harm. Mortgage Broker agrees to report to First Community Mortgage Inc., within three (3) days: (a) any consumer complaint which in any way involves any of the services contemplated by this Agreement or an Application Package submitted to First Community Mortgage Inc. for funding consideration; (b) any consumer complaint which involves federal consumer financial law, whether or not related to the services contemplated by this Agreement; (c) any legal or regulatory action which alleges a violation of federal consumer financial law; and/or, (d) any changes in senior management. It is expressly understood and agreed that the terms of this section 4.19 are a material condition and inducement to First Community Mortgage Inc. to enter into this Agreement. It is further understood and agreed that any failure of Mortgage Broker to fully perform, in whole or in part, any of the terms of this section shall constitute a material breach of this Agreement and the grounds for its immediate termination.
Compliance Management System. Mortgage Broker/Correspondent maintains an effective quality control program and Compliance Management System (“CMS”) designed to prevent violations of federal consumer financial law, and associated consumer harm. Mortgage Broker/Correspondent shall make available, upon the request of Secure One Capital: (a) copies of Mortgage Broker/Correspondent’s written policies, procedures, internal controls and training materials relative to Mortgage Broker/Correspondent’s employees and/or agents that have consumer contact and/or any consumer compliance responsibilities in connection with residential mortgage loan origination; and, (b) permit Secure One Capital or its designee access, during normal business hours, to the offices of Mortgage Broker/Correspondent in order that Secure One Capital may make appropriate on-site reviews, as necessary to confirm the propriety and effectiveness of Broker/Correspondent’s CMS, including an examination of Mortgage Broker/Correspondent’s internal controls and procedures that are designed to protect against a violation of federal consumer financial law and/or consumer harm. Mortgage Broker/Correspondent agrees to report to Secure One Capital, within three (3) days: (a) any consumer complaint which in any way involves any of the services contemplated by this Agreement or an Application Package submitted to Secure One Capital; (b) any consumer complaint which involves federal consumer financial law, whether or not related to the services contemplated by this Agreement; (c) any legal or regulatory action which alleges a violation of federal consumer financial law; and/or (d) any changes in senior management. It is expressly understood and agreed that the terms of this section 4.19 are a material condition and inducement to Secure One Capital to enter into this Agreement. It is further understood and agreed that any failure of Mortgage Broker/Correspondent to fully perform, in whole or in part, any of the terms of this section 4.19 shall constitute a material breach of this Agreement and the grounds for its immediate termination.
Compliance Management System. Buyer shall maintain a professional and effective Compliance Management System comparable to ISO 37001.
Compliance Management System. Respondents must immediately implement measures to comply with obligations under this Agreement and will hereafter continue to comply with all regulatory requirements imposed by each State Regulator.
Compliance Management System. The Company shall issue and implement a code of conduct for all of its employees, independent contractors, officers, and directors. The Company shall conduct an internal risk assessment (which will be updated on a regular basis) and implement a compliance management system that will address, among other things, conflicts of interest. The deadlines for completion of these items and the progress towards completion will be documented in the minutes of the meetings of the Company’s board of directors.
Compliance Management System. Mortgage Broker certifies that it maintains an effective quality control program and Compliance Management System (“CMS”) designed to prevent violations of federal consumer financial law, and associated consumer harm. Mortgage Broker shall make available, upon the request of FCM: (a) copies of Mortgage Broker written policies, procedures, internal controls and training materials relative to Mortgage Broker employees and/or agents that have consumer contact and/or any consumer compliance responsibilities in connection with residential mortgage loan origination; and, (b) permit FCM access, during normal business hours, to the offices of Mortgage Broker in order that FCM may make appropriate on-site reviews, as necessary to confirm the propriety and effectiveness of Broker CMS, including an examination of Mortgage Broker internal controls and procedures that are designed to protect against a violation of federal consumer financial law and/or consumer harm. Mortgage Broker agrees to report to FCM within three (3) days: (a) any consumer complaint which in any way involves any of the services contemplated by this Agreement or an Application Package submitted to FCM for funding consideration; (b) any consumer complaint which involves federal consumer financial law, whether or not related to the services contemplated by this Agreement; (c) any legal or regulatory action which alleges a violation of federal consumer financial law; and/or, (d) any changes in senior management. It is expressly understood and agreed that the terms of this section 4.19 are a material condition and inducement to FCM to enter into this Agreement. It is further understood and agreed that any failure of Mortgage Broker to fully perform, in whole or in part, any of the terms of this section shall constitute a material breach of this Agreement and the grounds for its immediate termination.