Compliance and Integrity
Fortech is committed to following best practices and market standards in areas of accountability, governance, corporate social responsibility (CSR), transparency and business ethics in order to promote sustainability. At the core of these efforts are the mitigation and management of reputational and compliance risks that Fortech faces.
Fortech expects its employees and other subcontractors to maintain high ethical standards and conduct their work and business practices in line with the Fortech’s anti-corruption framework as well as with Fortech’s guidelines for procurement.
Employees and subcontractors shall report to Fortech any allegations of Prohibited Practices in any activities related to Fortech. Fortech emphasis transparency in all its activities and actively aims at preventing corrupt or illegal behavior. Fortech support stakeholders, employees and subcontractors in their efforts to fight corruption by establishing appropriate codes of conduct and policies and procedures to prevent, detect and investigate corruption.
Our General Principles on Compliance and Integrity include:
- Compliance as commonly defined as the adherence to laws, regulations, rules, related self-regulatory organization standards and codes of conduct in matters concerning observing proper standards of market conduct, managing conflicts of interest and specifically dealing with matters such as the prevention of money laundering and terrorist financing, and investigations of suspected and alleged corrupt and fraudulent behavior.
- Compliance risk as the risk of legal or regulatory sanctions, material financial loss, or loss to reputation that an entity may suffer as a result of its failure to comply with compliance laws, rules and standards.
- Institutional compliance includes issues of Fortech’s reputation, control, internal structure and decision-making processes, principles of procurement, principles of Corporate Social Responsibility (CSR), public information disclosure, sustainability reporting and adherence to internal instructions.
- Operational compliance that includes the assessment of integrity, risk and reputation risk in Fortech’s business practices, in particular by following certain principles, such as Know Your Customer, conducting integrity due diligence checks, including assessing risks relating to Money Laundering, Terrorist Financing and tax fraud as well as compliance issues in relation to the development of new products or business practices.
- Conduct compliance includes risk in terms of conflict of interest, insider trading and other issues related to the professional conduct of members of Fortech’s, managers and staff.
Fortech mitigates and manages conduct risks by fostering an environment of high integrity and ethical values among its staff, business partners and stakeholders.