Fameline Holding Group Ltd. together with its subsidiary and affiliate companies has a moral and ethical responsibility to act with integrity in conducting its business. This duty is owed to the communities in which we operate, and it must be taken seriously. Bribery and corruption hinder economic growth by confounding market principles, and the victims are individuals and businesses that rely on sustainable growth for their physical and social well-being. For this reason, the Company will not countenance bribery or corruption in any form.
In addition to our ethical responsibilities, the Company is subject to laws in all the jurisdictions that we operate that prohibit bribery and corruption and that require that we take certain steps to prevent bribery within the Company itself, and by our business partners. The consequences of any violation of these laws can be severe, including unlimited fines for the Company and imprisonment of the individuals involved and their managers. Moreover, failures to follow applicable laws can result in irreparable damage to the Company’s reputation and a loss of business.
The Company is determined to meet its ethical obligations and to abide by both the spirit and letter of applicable laws wherever it operates. To that end, this Anti-Bribery and Anti-Corruption Policy (the “Policy”) has been implemented.
The Company, through its Head of Compliance, is required to follow the procedures as laid out in this Policy.
The Company has a zero tolerance approach to bribery and corruption and is committed to acting professionally, fairly and with integrity in all its business dealings and relationships, wherever it operates, by implementing and enforcing effective systems to counter corruption and bribery. As such the Company requires all employees, at all times, to act with honesty and integrity and to safeguard the resources of the business in accordance with this Policy.
The Policy includes four individual sections on:
The Management has full authority to implement this Policy within its sphere of responsibility. The measures taken by the Management include:
The Policy applies to:
The Head of Compliance should assess the type of risks involved in the operation of the Company, review and test the Company’s systems and controls, ensure that the Company’s controls are being complied with and that the Company’s systems continue to operate effectively, and update the Policy to ensure it is effective and the Company is compliant.
The Company operate in many jurisdictions, all of which have bribery and anti-corruption laws. There are differences in approach and therefore the Policy is written with the highest and most onerous requirements in mind. In the Company’s view the UK Bribery Act 2010 is the most stringent and we have written the Policy with that Act, and the standards it imposes, in mind.
The Bribery Act 2010 came into force in the UK in July 2011 and consolidates the law, creating four criminal offences:
A bribe includes payments, offers or promises to pay, give or provide anything of value, directly or indirectly, to obtain an improper personal or business advantage and includes small facilitation type payments. The Company prohibits both, the payment, offer and authorization of a bribe as well as the receipt or acceptance of a bribe.
“Anything of value” should be interpreted broadly to include anything (whether monetary or non-monetary) that provides a benefit to the recipient and there is no lower limit. By way of example, a bribe may include a gift, secret commissions or kickbacks, inappropriate or disproportionate remuneration, political contributions, excessive travel and entertainment, offers of employment, or any form of preferential treatment. Please note that this list of examples is not exhaustive.
The Employees and those acting on the Company’s behalf must not:
Where an Employee becomes aware of, or suspects, that bribery has taken place, the following procedures apply:
Every effort will be made to grant anonymity if it is requested, although Employees should be aware that anonymity may be difficult or even impossible to preserve in a small company and if, as a result of investigations, the police are informed or disciplinary action against the wrongdoer is taken. All reports made to the Head of Compliance will be treated in confidence and be fully investigated.
The Company does not condone and will not tolerate bribery or corruption in any form, even if the Employee believes he or she is taking such action for the good of the Company the consequences of non-compliance with the Policy could be severe for the individual involved and the Company as a whole. Bribery and corruption will be considered as acts of gross misconduct and any Employee who breaches the Policy will face disciplinary action, which could result in immediate dismissal for gross misconduct. The Company reserves its right to terminate its contractual relationship with other Third Parties if they or the Company are found to have been in breach of the Policy.
The Policy and relevant guidance will be communicated to all Employees on a regular basis and training will be provided to support this Policy and compliance. Each Employee must acknowledge receipt of the Policy and declare by his/her signature his/her understanding and acceptance of the contents herein. Where it is appropriate to do so, Employees will receive regular updates on the Policy. The Policy will be available at Company’s website to be accessible to Third Party.
If you have any questions regarding this Policy, please contact:
The Company must act with integrity and transparency in all of its business to avoid even the appearance of it being seeking to obtain any improper advantage through over-lavishes hospitality. Such hospitality may be considered unlawful under the UK Bribery Act 2010 and other laws if it is excessive and/or it is made at an inappropriate time, for example in the middle of contract negotiations. The Company does not therefore permit the giving or receiving of gifts, benefits or entertainment that are not reasonably justifiable in all the circumstances and/or not authorized by the Management.
The Policy sets out the Company’s rule on the offering and receiving of gifts, benefits and entertainment. It seeks to ensure that any conflict of interest or the appearance of such, between the self-interest of an Employee and his/her responsibilities to the Company or its clients is avoided or, at the very least, appropriately managed. All client entertaining expenses will, therefore, be declared and closely monitored by the Company.
All Employees of the Company must act in accordance with the terms of the Policy when considering whether to offer or receive gifts, benefits or entertainment. If there is any doubt in relation to it the Head of Compliance must be contacted.
Please not, however, that repeat gifts of this nature are not to be encouraged, particularly when, if taken together over the course of a year, their value exceeds Euro 500.
Breaches of the Policy are a serious matter and may render Employees liable to disciplinary action, up to and including termination of employment.
In many jurisdictions, such breaches might also render an employee liable to prosecution by a law enforcement or regulatory body which might impose significant penalties for the giving or receiving of payments or gifts, benefits or entertainment which are deemed to be improper inducements for investment or other business. Where a clear breach of the law and the Policy has taken place the Company will be obliged to co-operate with the appropriate law enforcement authorities.
In the case of Third Parties or other business partners to whom the Policy also applies, the Company will not hesitate to terminate its relationship with a Third Party or other business partner found to have breached the Policy.
Details of all gifts, benefits or entertainment given or received over Euro 500, including any rejected gifts, should be maintained in a register. As such, all Employees are requested to report such details to the Head of Compliance who will in turn maintain a log in this respect listing such details.
The Head of Compliance will periodically review (at lease annually) the frequency of gifts and entertainment being received and given and where appropriate seek the advice of the Company’s legal advisers where the cumulative monetary value of gifts and entertainment given or received by any individual appears excessive or inappropriate.
This section governs political and charitable donations made by the Company and any Employee acting in a business capacity for and on behalf of the Company.
The Company and the Employees are not permitted, under any circumstances, to make political donations on behalf of the Company.
If you become aware or have reason to suspect that an Employee may have made may intend to make a political donation on behalf of the Company, this must be reported to the Head of Compliance, Employees must not use their position within the Company to coerce or pressure other Employees to make contribution to or support or oppose any political party.
Notwithstanding the above prohibition, Employees remain entitled to participate in the political process in their individual capacity and not as representative of the Company. Any decision to do so is entirely personal and voluntary and is a private matter. In so doing, when engaged in political activities, Employees are expected to do it as private individuals, and at all times must make it clear that their views and actions are their own, and not those of the Company.
It is the general policy of the Company that charitable donations made on behalf of the Company should be made exclusively to charities approved by local authorities, which shall remain recorded at the Company’s files for future reference. In accordance with the Policy, charities with political connections should be avoided at all times.
The Company shall have a yearly approved budget for donations to be distributed only amongst charitable entities which when approaching the Company have the appropriate certification and approval by local authorities. Company’s management will be responsible to deliberate about the grant of the donation and the value to be disbursed. All receipts are to be handed to the accounting department which shall keep records of such expenses.
Charitable donations may not be made on behalf of the Company without express approval of the management.
The Head of Compliance is responsible for keeping track of the budget allocated to charitable donations and should keep a record of all charitable entities which approached the Company as well as the effective donations made to each of them. The Head of Compliance should periodically review this record.
The Company is committed to ensuring that the same, the Employees and Third Parties act properly and in the interests of the Company. This means managing any actual or potential conflicts of interest whilst recognizing the fact that the Employees have interests and affiliations beyond their work for the Company. The Policy sets out the Company’s requirements in respect of potential conflicts of interest and supplements and is in addition to the duly of confidentiality in relation to Company business that all Employees must abide by.
For the purposes of the Policy:
A conflict of interest may arise when an Employee or one of their Close Relatives has, or takes on, an affiliation or outside interest which could be perceived negatively to impact on the Company’s interest.
Examples of potential conflicts of interest include:
Any outside relationship or affiliation that could be perceived to pose a conflict of interest must be submitted in writing to the Head of Compliance. All outside jobs must be declared.
Employees must also disclose in writing to the Head of Compliance, if they or one of their Close Relatives is a Public Official.
The Head of Compliance will evaluate the potential conflict of interest and decide how best to manage it, taking into consideration the particularities of leaving and doing business on a closed environment as Cyprus.
Jobs and affiliations of Close Relatives can create or appear to create a conflict of interest, but our country and moreover the local job market is very small and we must take into consideration, only in exceptional cases where it could create a direct conflict if one of an Employee’s Close Relatives works for the Company, a Third Party or a competitor of the Company, the said Employee must declare this in writing to the Head of Compliance.
All potential conflicts of interest should be evaluated on their merits and their potential impact on the Company’s business. Many outside affiliations will be permissible (e.g. serving as a Trustee to a bona fide charity or a pension trustee) whilst others could have a negative impact on the Company’s business (e.g. an Employee (or one of his/her Close Relatives) also working for a Third Party or a competitor of the Company). In some instances it may be possible to manage the potential conflict (e.g. by removing the relevant Employee from discussions or decisions involving the related Third Party). It is the Employee’s responsibility to ensure that the work of their reported is not prejudiced or perceived to be prejudiced by their outside affiliations. Guidance on managing conflicts of interest can be obtained from the Head of Compliance.
Failure to comply with the Policy is a serious disciplinary offence which can lead to termination of employment or business relations.
Complaints about non-compliant behavior can be made to the most accessible Head of Department/Manager/ Director, or, if there is reason to believe that this will be ineffective, to the Head of Compliance. All complaints will be taken seriously and investigated where appropriate. There must be no retaliation for good faith reporting of violation or participating in the Company’s investigation of a complaint.
I certify that I have read and understood the above conflicts of interest section of the Policy and declare that neither I nor any of my Close Relatives have a conflict of interest. Neither I nor any of my Close Relatives are Public Officials. (Name and Date); OR
I have notified the Head of Compliance in writing of a potential conflict of interest and attach the notification and their response. (Name and Date)
I confirm that I have read and understood the present “Anti-Bribery and Anti-Corruption Policy”.
(Name of Employee) and (Date of Acknowledgement).
Limassol, August 2020