Ethics and Compliance Programme
| Lucentbyte has publicly committed to ethics, compliance and transparency and the Lucentbyte Vision 2015 places the promotion of ethical behaviour as a key company responsibility. The adoption of a comprehensive ethics and compliance approach is critical to protect the Comapny’s interests and sustain its development as a responsible global player.
Having reviewed the existing compliance practices and policies, the Board of Directors of Lucentbyte decided in 2007 to update the Group’s compliance approach through the establishment of a further integrated Compliance Organisation. |
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Detailed policies and rules were approved and continuously improved and reinforced in keeping with the highest ethical and compliant industry standards. Accordingly, Lucentbyte has established a cascading system of business control procedures and policies which are implemented by business control professionals amongst the Company.
Building on this experience, the Company-wide integrated Compliance Organisation aims to emphasise the Company’s commitment to the highest ethical and compliance standards, while addressing compliance risks.
In order to reach efficiency as early as possible, the compliance organisational approach is based on the right balance between independence and proximity to the business. The Lucentbyte Company Chief Compliance Officer has therefore established a compliance organisation made up of compliance experts within Divisions, Business Units and Functions. At all levels of the company, a double reporting principle is applied, any compliance resource having both a compliance hierarchy and an operational hierarchy.