Executive Compass will not tolerate any form of bribery by, or of, its employees, sub-contractors or consultants or any person or body acting on its behalf. Executive Compass is committed to implementing effective measures to prevent, monitor and eliminate bribery.
The anti-bribery policy applies to all employees of Executive Compass, and to temporary workers, sub-contractors, consultants, and any other third party acting for, or on behalf of, Executive Compass (“associated persons”). Every employee and associated person acting for, or on behalf of, Executive Compass is responsible for maintaining the highest standards of business conduct.
Any breach of this policy is likely to constitute a serious disciplinary and criminal matter for the individual concerned and may cause irreparable damage to the reputation and standing of Executive Compass. A damaged reputation on account of bribery offences could lead to loss of business through word of mouth and a decrease in investor confidence – all of which could have severe financial consequences for the Company. Executive Compass may also face criminal liability for unlawful actions taken by its employees or associated persons under the Bribery Act 2010. All employees and associated persons are required to familiarise themselves and comply with this policy, including any future updates that may be issued from time to time by Executive Compass.
The Bribery Act 2010 has been in force since 1 July 2011. This policy covers:
- The main areas of liability under the Bribery Act 2010;
- The responsibilities of employees and associated persons acting for, or on behalf of, Executive Compass; and
- The consequences of any breaches of this policy.
Bribery Act 2010
Executive Compass is committed to complying with the Bribery Act 2010.
Under the Bribery Act 2010, a bribe is a financial or other type of advantage that is offered or requested with the:
- Intention of inducing or rewarding improper performance of a function or activity;
- Or with the knowledge or belief that accepting such a reward would constitute the improper performance of such a function or activity.
A relevant function or activity includes public, state or business activities and where the person performing that activity is expected to perform it in good faith, impartially, or in accordance with a position of trust.
A criminal offence will be committed under the Bribery Act 2010 if:
- An employee or associated person acting for, or on behalf of, Executive Compass offers, promises, gives, requests, receives or agrees to receive bribes; or
- An employee or associated person acting for, or on behalf of, Executive Compass offers, promises or gives a bribe to a foreign public official with the intention of influencing that official in the performance of his/her duties, (where local law does not permit or require such influence); and
- Executive Compass does not have the defence that it has adequate procedures in place to prevent bribery by its employees or associated persons.
Executive Compass takes its responsibility to prevent bribery very seriously and this is why the Company wants to be associated only with others whose standards match its own. All employees and associated persons are required to comply with this policy, in accordance with the Bribery Act 2010.
What is prohibited
Executive Compass prohibits employees or associated persons from offering, promising, giving, soliciting or accepting any bribe.
The bribe might be cash, a gift or other inducement to, or from, any person or company, whether a public or government official, a private person or company.
The bribe might be made to ensure that a person or company improperly performs duties or functions (for example, by not acting impartially or in good faith or in accordance with their position of trust) to gain a commercial, contractual or regulatory advantage for Executive Compass. This could be to either obtain or maintain Company business, or to gain any personal advantage, financial or otherwise, for the individual or someone connected with the individual.
This prohibition also applies to indirect contributions, payments or gifts made in any manner as an inducement or reward for improper performance, for example through consultants, contractors or sub-contractors, suppliers or other third parties.
Records
Employees and, where applicable, associated persons, are required to take particular care to ensure that all company records are accurately maintained in relation to any contracts or business activities, including financial invoices and all payment transactions with clients, suppliers and public officials.
Due diligence should be undertaken by employees and associated persons prior to entering into any contract, arrangement or relationship with a potential supplier of services, agent, consultant or representative.
Employees and associated persons are required to keep accurate, detailed and up-to-date records of all corporate hospitality, entertainment or gifts accepted and offered. Executive Compass has a central register of gifts and hospitality which is maintained by the company Director, Neil Capstick. All gifts or hospitality accepted or offered should therefore be reported to the Director.
Action by Executive Compass
Executive Compass will fully investigate any instances of alleged or suspected bribery. Employees suspected of bribery may be suspended from their duties while the investigation is being carried out. Executive Compass will invoke its disciplinary procedures where any employee is suspected of bribery, and proven allegations may result in a finding of gross misconduct and immediate dismissal. Executive Compass may terminate the contracts/orders of any associated persons, including sub-contractors, consultants or other workers who act for, or on behalf of, Executive Compass who are found to have breached this policy.
Executive Compass may also report any matter to the relevant authorities, including the Director of Public Prosecutions, Serious Fraud Office, Revenue and Customs Prosecutions Office and the police. Executive Compass will provide all necessary assistance to the relevant authorities in any subsequent prosecution.
You can find out more about the Act on the Ministry of Justice website:
https://www.legislation.gov.uk/ukpga/2010/23/pdfs/ukpga_20100023_en.pdf