1. Introduction
Purpose and Scope:
This policy is designed to ensure that Axmed operates in compliance with all relevant anti- bribery and anti-corruption laws and regulations and maintains the highest standards of ethical conduct in all business dealings. Axmed applies a “zero tolerance” approach to acts of bribery and corruption by any employees, directors, officers, agents, consultants, suppliers, vendors, contractors, or any third parties representing or partnering with Axmed (hereafter “Axmed Persons”). This strict approach underscores our commitment to conducting business ethically and transparently, reinforcing our reputation for integrity and compliance.
Reputation:
Axmed has a reputation built on our core value of Integrity, which is consistently reflected in our Code of Conduct. All business transactions must adhere to the highest ethical standards, even in regions where local customs may be less stringent. Any breach of this policy is a serious matter, exposing both the company and individuals to potential legal penalties and reputational damage. Violations of this policy will lead to disciplinary action, up to and including termination of employment or termination of contractual relationships with third parties, and any other legal recourse at our reach.
2. Definitions
a. b. c. Bribery: Directly or indirectly offering, giving, receiving, or soliciting anything of value, whether in the form of money, gifts, favors or other benefits (such as promises or offers of anything valuable, regardless of their material worth), to influence the actions of a person in the performance of their duties, whether public of private.
Corruption: Abuse of entrusted power for private gain, including but not limited to bribery, extortion, fraud, nepotism, and any other unethical practices.
Facilitation Payments: Unofficial payments made to secure or expedite routine governmental actions, such as processing permits or providing basic services.
These payments are considered bribery under this policy.
Kickbacks: any payment or reward made to someone who has facilitated a transaction or agreement, often involving an improper or unethical arrangement.
3. Policy Statements
3.1 Prohibition of Bribery and Corruption
Axmed categorically prohibits any form of bribery, corruption, or unethical practices by all employees and associated persons, regardless of location or local customs. No employee or associated person shall offer, give, solicit, or receive any bribe or other improper payment, or engage in any corrupt practices.
Violations of this prohibition will result in disciplinary action, up to and including termination, and may lead to legal prosecution.
3.2 Compliance with Laws and Regulations
All employees and associated persons must comply with all applicable anti-bribery and anti-corruption laws and regulations, including but not limited to the
US Foreign Corrupt Practices Act (FCPA), the Swiss Criminal Code (SCC) and Swiss
Unfair Competition Act (UCA), as well as the OECD Anti-Bribery Convention and the UN Convention against corruption, as well as any other relevant local laws in the countries where Axmed operates.
3.3 Facilitation Payments
Axmed categorically forbids the use or acceptance of facilitation payments. . All employees must avoid any transactions that might involve facilitation payments. In situations where refusal poses a threat to personal safety, the payment must be reported immediately for investigation and appropriate follow-up.
3.4 Gifts and Hospitality
a. Gifts and hospitality can be offered or accepted only if they are reasonable, proportionate, and made in good faith. They should not be intended or perceived to improperly influence business decisions or gain an unfair advantage.
b. All gifts and hospitality offered or received must be documented and reported according to the company’s procedures.
c. All gifts and hospitality offered or received must be infrequent and aligned with applicable law and company procedures, with respect to the applicable maximum value thresholds mandated by law or policy from time to time.
3.5 Charitable Donations and Sponsorships
Axmed supports charitable donations and sponsorships in line with our values and social responsibility commitment. However, these must not be used as a disguise for bribery or to gain undue influence. All charitable contributions and sponsorships must be transparent and made in accordance with company policies.
3.6 Political Contributions. Axmed does not make political contributions. Axmed prohibits all political contributions on behalf of the company. Employees are prohibited from using company funds, resources, or assets for any political purpose, including donations to candidates, parties, or political organizations. Employees must not use company funds or resources for political purposes.
4. Responsibilities
4.1 Management Responsibilities
Senior management is responsible for ensuring compliance with this policy and providing adequate resources for its implementation and enforcement. Besides approving this policy and its future updates, management will ensure monitoring and escalation of related issues is handled efficiently and promptly.
4.2 Employee Responsibilities
All employees are responsible for reading, understanding, and complying with this policy. The completion of such will be tracked and regular updates will be rolled out to ensure employees stay up to date, and refresher courses will be provided regularly. Any suspected or actual breaches of this policy must be reported immediately through the appropriate channels, without fear of retaliation.
5. Standards for Suppliers and Procurers
5.1 Supplier and Procurer Compliance
Suppliers and procurers must comply with all applicable anti-bribery and anti- corruption laws and regulations, and this policy. Axmed requires all suppliers and procurers to adhere to similar anti-bribery and anti-corruption standards as set forth in this policy, reflecting our zero-tolerance approach.
5.2 Due Diligence
Prior to engaging with suppliers and procurers, Axmed will conduct due diligence to ensure their compliance with anti-bribery and anti-corruption standards. This includes evaluating their reputation, history and records of compliance with anti- bribery and anti-corruption laws, and business practices. This process is mandatory to minimize the exposure to corruption risks.
5.3 Contractual Obligations
All contracts with suppliers and procurers must include explicit anti-bribery and anticorruption clauses that require compliance with anti-bribery and anti- corruption laws and this policy. Non-compliance will result in corrective action, which may include termination of the contract and other legal recourses.
5.4 Monitoring and Auditing
Axmed will conduct regular audits and assessments of suppliers and procurers to ensure adherence to anti-bribery and anti-corruption standards. Any discrepancies or violations must be reported and addressed promptly.
6. Training and Communication
Axmed will provide mandatory training (and periodic refreshers) on anti-bribery and anti-corruption for all employees, management, and, if required, relevant third parties
This policy will be clearly communicated and accessible to all stakeholders, ensuring a comprehensive understanding of our commitment to ethical conduct.
7. Reporting and Whistleblowing
Employees and associated persons are encouraged to report any concerns or suspicions of bribery or corruption at the earliest possible stage. . Axmed provides confidential reporting channels, and all reports will be taken seriously and investigated promptly. Employees may report without fear of retaliation or adverse consequences. The identity of whistleblowers will be protected to the fullest extent possible.
Please refer to our Speak Up Policy and the Employee Handbook for a comprehensive overview of the process in relation to reporting potential violations of this policy.
8. Monitoring and Review
This policy will be regularly reviewed and updated as necessary to ensure its continued effectiveness and relevance. Compliance with this policy will be systematically monitored through internal audits, risk assessments, and reporting mechanisms.
9. Consequences of Non-Compliance
Non-compliance with this policy will result in disciplinary action, up to and including termination of employment or contractual relationships. In cases involving illegal actions, Axmed will pursue appropriate legal measures to address and rectify the non-compliance.