| Blue Label is committed to
maintaining high standards of
integrity, professionalism and
ethical behaviour in all its
relationships. This commitment is
supported by the company’s code
of conduct set out above. Besides
complying with the law, it is
essential that each employee is
sensitive to any improper
conduct. The way in which each
employee conducts the company’s
business directly affects the
public image and reputation of
the group.
On the recommendation of the
ARCC, the board approved a
corporate compliance policy, the
objective of which is to provide a
framework within which the board
and management can operate in
order to reinforce a compliance
culture throughout the group.
The corporate compliance policy
focuses on the fundamental
principles of business conduct
supporting group values, and
details the roles, authority and
responsibility of key players.
The governance structure and
reporting lines supporting the
compliance function is depicted
below:
View enlarged image
During the year Blue Label
re-defined its regulatory universe
and a focus area in the ensuing
financial year will be on the
implementation of a management
tool to assist in evaluating the
group’s compliance with its
regulatory universe, and the
compilation of risk management
plans to ensure that risks are
mitigated effectively. The
compliance process involves risk
identification, risk assessment,
compliance risk management and
compliance risk monitoring.
No material judgements, damages,
penalties or fines were recorded
and/or levied against the group
during the year under review for
non-compliance with any legislation. |
