Barents Re is committed to the highest standards of regulatory compliance and corporate governance. We recognise the importance of adhering to all applicable laws and regulations in the territories in which we conduct business around the world.
The Barents Re Compliance Officer is responsible for ensuring that robust systems and controls are in place to achieve adherence to compliance and governance requirements. These systems and controls are agreed and monitored by the Barents Re Board of Directors.
We expect all members of staff to be aware of and be fully compliant with the laws, rules and regulations pertinent to their day-to-day business. We communicate our compliance and governance policies and procedures by means of our Compliance Manual which is distributed to all staff worldwide.
Our compliance manual includes detailed information on Know Your Client, the process though which we verify the identity of our clients. Barents Re has implemented effective systems and controls to ensure the identification of all of the Counterparties, with which it enters into business relationships, as reputable and legal parties that operate within regulatory bounds and are not a sanctioned entity or individual.