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HC-3.1.3

For further information and guidance on compliance risk and the compliance function, the Agency recommends that banks refer to the Basel Committee publication, "Compliance and the compliance function in banks" (see www.bis.org/publ published April 2005). The Agency expects banks to carry out a review of their compliance with the principles in this paper on a regular basis (either by way of a self-assessment or by way of a review by the internal or external audit function).