Global Anti Corruption Policy

Berium Group’s commitment to doing business with integrity means preventing corruption in any form and complying with both the international and domestic anti-corruption laws of every local communities and countries where we do business.

We avoid all forms of bribery and corruption in all our operations. As a matter of policy, we call for similar ethical requirements from all of our affiliates, associates and third party business partners.

Global Anti-corruption Policy

(Approved by the Berium Group Compliance Audit Committees on 15 June 2015, to be reviewed on 15 July 2018)

Policy statement

1.1 It is our policy to conduct all of our business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption and we are committed to acting professionally, fairly and with integrity in all our business dealings and relationships wherever we operate and in implementing and enforcing effective systems to counter bribery.
1.2 We will uphold domestic laws in area where we conduct business and all international laws and relevant to countering bribery and corruption. However, we remain bound by the laws of the Hong Kong, including the Prevention of Bribery Ordinance (PBO), in respect of our conduct both at home and abroad.
1.3 The purpose of this policy is to:
(a) set out our responsibilities and of those working for us, in observing and upholding our position on bribery and corruption; and
(b) to provide information and guidance to those working for us on how to recognize and deal with bribery and corruption issues.
1.4 Bribery and corruption are punishable for individuals by up to ten years’ imprisonment and if we are found to have taken part in corruption we could face an unlimited fine, be excluded from tendering for public contracts and face damage to our reputation. We therefore take our legal responsibilities very seriously and we have conducted a risk assessment to identify any key areas which may potentially pose a particular risk to our organization.
1.5 In this policy, third party means any individual or organization you come into contact with during the course of your work for us, and includes actual and potential clients, customers, suppliers, distributors, business contacts, agents, advisers and government and public bodies, including their advisors, representatives and officials, politicians and political parties.

Who is covered by the policy?

2. This policy applies to all individuals working at all levels and grades, including senior managers, directors, employees (whether permanent, fixed-term or temporary), consultants, contractors, trainees, seconded staff, casual workers and agency staff, interns, agents, sponsors, or any other person associated with us, or any of our subsidiaries or their employees, wherever located (collectively referred to as workers in this policy).

What is bribery?

3. A bribe is an inducement or reward offered, promised or provided in order to gain any commercial, contractual, regulatory or personal advantage.

Gifts and hospitality

4.1 This policy does not prohibit normal and appropriate hospitality (given and received) to or from third parties.
4.2 The giving or receipt of gifts is not prohibited, if the following requirements are met:

  • it is not made with the intention of influencing a third party to obtain or retain business or a business advantage, or to reward the provision or retention of business or a business advantage, or in explicit or implicit exchange for favours or benefits;
  • it complies with local law;
  • it is given in our name, not in your name;
  • it is appropriate in the circumstances. For example, in some countries it is customary for small gifts to be given at Christmas time;
  • taking into account the reason for the gift, it is of an appropriate type and value and given at an appropriate time;
  • it is given openly, not secretly; and
  • gifts should not be offered to, or accepted from, government officials or representatives, or politicians or political parties, without the prior approval of the company compliance officer.

4.3 We appreciate that the practice of giving business gifts varies between countries and regions and what may be normal and acceptable in one region may not be in another. The test to be applied is whether in all the circumstances the gift or hospitality is reasonable and justifiable. The intention behind the gift should always be considered.

What is not acceptable?

5. It is not acceptable for you (or someone on your behalf) to:

  • give, promise to give, or offer, a payment, gift or hospitality with the expectation or hope that a business advantage will be received, or to reward a business advantage already given;
  • give, promise to give, or offer, a payment, gift or hospitality to a government official, agent or representative to “facilitate” or expedite a routine procedure;
  • accept payment from a third party that you know or suspect is offered with the expectation that it will obtain a business advantage for them;
  • accept a gift or hospitality from a third party if you know or suspect that it is offered or provided with an expectation that a business advantage will be provided by us in return;
  • threaten or retaliate against another worker who has refused to commit a bribery offence or who has raised concerns under this policy; or
  • engage in any activity that might lead to a breach of this policy.

Facilitation payments and kickbacks

6.1 If you are asked to make a payment on our behalf, you should always be mindful of what the payment is for and whether the amount requested is proportionate to the goods or services provided. You should always ask for a receipt which details the reason for the payment. If you have any suspicions, concerns or queries regarding a payment, you should raise these with the Group Head of Compliance.
6.2 Kickbacks are typically payments made in return for a business favour or advantage. All workers must avoid any activity that might lead to, or suggest, that a facilitation payment or kickback will be made or accepted by us.

Donations

7. We do not make contributions to political parties. We can only make charitable donations that are legal and ethical under local laws and practices. No donation must be offered or made without the prior approval of the Group Head of Compliance.

Your responsibilities
8.1 You must ensure that you read, understand and comply with this policy.
8.2 The prevention, detection and reporting of bribery and other forms of corruption are the responsibility of all those working for us or under our control. All workers are required to avoid any activity that might lead to, or suggest, a breach of this policy.
8.3 Any employee who breaches this policy will face disciplinary action, which may result in dismissal. We reserve our right to terminate our contractual relationship with other workers and organizations if they breach this policy.

Record-keeping

9.1 We must keep financial records and have appropriate internal controls in place which will evidence the business reason for making payments to third parties.
9.2 You must declare and keep a written record of all hospitality or gifts accepted or offered in accordance with the company’s Regulations and Procedures . You must also ensure that all expenses claims relating to hospitality, gifts or expenses incurred to third parties are submitted in accordance with such regulations and the manual.

How to raise a concern

10.1 You are encouraged to raise concerns about any issue or suspicion of malpractice at the earliest possible stage. If you are unsure whether a particular act constitutes bribery or corruption, or if you have any other queries, these should be raised with the Group Head of Compliance. You should raise a concern as soon as possible if you believe or suspect that a conflict with this policy has occurred, or may occur in the future.For example, if a client or potential client offers you something to gain a business advantage with us, or indicates to you that a gift or payment is required to secure their business. Further “red flags” that may indicate bribery or corruption are set out in the Appendix.
10.2 Concerns should be reported by following the procedure set out in our Whistle blowing Policy.

What to do if you are a victim of bribery or corruption

11. It is important that you tell the Group Head of Compliance as soon as possible if you are offered a bribe by a third party, are asked to make one, suspect that this may happen in the future, or believe that you are a victim of another form of unlawful activity.

Protection

12.1 Workers who refuse to accept or offer a bribe, or those who raise concerns or report another’s wrongdoing, are sometimes worried about possible repercussions. We aim to encourage openness and will support anyone who raises genuine concerns in good faith under this policy, even if they turn out to be mistaken.
12.2 We are committed to ensuring no one suffers any detrimental treatment as a result of refusing to take part in bribery or corruption, or because of reporting in good faith their suspicion that an actual or potential bribery or other corruption offence has taken place, or may take place in the future. Detrimental treatment includes dismissal, disciplinary action, threats or other unfavourable treatment connected with raising a concern.

Communication

13.1 Our zero-tolerance approach to bribery and corruption must be communicated to all suppliers, contractors and business partners at the outset of our business relationship with them and as appropriate thereafter.

Who is responsible for the policy?

14.1 Both the Legal & Compliance Committee and Risk & Audit Committee have overall responsibility for ensuring this policy complies with our legal and ethical obligations, and that all those under our control comply with it.
14.2 The Group Head of Compliance has primary and day-to-day responsibility for implementing this policy and for monitoring its use and effectiveness and dealing with any queries on its interpretation. Management at all levels is responsible for ensuring those reporting to them are made aware of and understand this policy.
14.3 The Group Head of Compliance will monitor the effectiveness and review the implementation of this policy, regularly considering its suitability, adequacy and effectiveness. Any improvements identified will be made as soon as possible. Internal control systems and financial procedures will be subject to regular audits to promote best practice in countering bribery and corruption.
14.4 All workers are responsible for the success of this policy and should ensure they use it to disclose any suspected danger or wrongdoing.

Appendix
Potential risk scenarios: “red flags”

The following is a list of possible red flags that may arise during the course of you working for us and which may raise concerns under various anti-bribery and anti-corruption laws.
The list is not intended to be exhaustive and is for illustrative purposes only.
If you encounter any of these red flags while working for us, you must report them promptly using the procedure set out in the Whistle blowing Policy:

  • you become aware that a third party engages in, or has been accused of engaging in, improper business practices;
  • you learn that a third party has a reputation for paying bribes, or requiring that bribes are paid to them, or has a reputation for having a “special relationship” with foreign government officials;
  • a third party insists on receiving a commission or fee payment before committing to sign up to a contract with us, or carrying out a government function or process for us;
  • a third party requests payment in cash and/or refuses to sign a formal commission or fee agreement, or to provide an invoice or receipt for a payment made;
  • a third party requests that payment is made to a country or geographic location different from where the third party conducts business;
  • a third party requests an unexpected additional fee or commission to “facilitate” a service;
  • a third party demands lavish entertainment or gifts before commencing or continuing contractual negotiations or provision of services;
  • a third party requests that a payment is made to “overlook” potential legal violations;
  • a third party requests that you provide employment or some other advantage to a friend or relative;
    you receive an invoice from a third party that appears to be non-standard or customized;
  • a third party insists on the use of side letters or refuses to put terms agreed in writing;
    you notice that we have been invoiced for a commission or fee payment that appears large given the service stated to have been provided;
  • a third party requests or requires the use of an agent, intermediary, consultant, distributor or supplier that is not typically used by or known to us; or
  • you are offered an unusually generous gift or offered lavish hospitality by a third party.