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Compliance & Anti-bribery Compliance Policy

Compliance & Anti-bribery Compliance Policy

PANEL NETWORKS SA recognizing the need to combat corruption and bribery, in order to enhance the Company's credibility and reputation, transparency and efficiency of its business operations and to respond to the needs and expectations of its stakeholders, has undertaken the development, installation and commitment to implement and continuously improve an Anti-Bribery Management System, in accordance with the requirements of the International Standard for Anti-Bribery Management EN ISO 37001:2016.

The scope of the System is:
  • Import, Trading & Disposal of Electrical Wires & Cables
  • Management Of Welding Inspection Services and Technical Tests and Analyses, in Refineries and Chemical Industry

In this way, it aims to reinforce the Management's Commitment to zero tolerance of bribery and to raise awareness of all employees and partners of the Company against bribery by creating a series of procedures that will ensure the prevention, deterrence and combating of bribery.

PANEL NETWORKS SA is particularly committed to:

  • To comply with the current legal and regulatory framework for the fight against bribery
  • To comply with the requirements of the Anti-Bribery Management System according to ISO 37001:2016.
  • Encourage the confidential reporting of an incident or suspected or attempted incident of bribery through specific communication channels by employees and partners of the Company without fear of retaliation to the Anti-Bribery Compliance Function Manager (ACFO) and relevant Company personnel.
  • Explain the authority and independence of the Compliance Function Manager in the Company's regulatory compliance and anti-bribery compliance audit process.
  • Explain the consequences of the Company's non-compliance with this policy
  • To support the function and independence of the YLSC in the Company's regulatory compliance and anti-bribery compliance audit process,
  • the consequences and penalties for non-compliance with this policy,
  • providing the necessary resources and appropriate means to train, raise awareness and involve staff in compliance and anti-bribery compliance issues, aiming at continuous improvement of the ICS.
  • To continuously improve the Anti-Bribery Management System in its business operations through the following tools:

    • Establish and achieve the Company's regulatory and anti-bribery compliance objectives.
    • Conduct internal reviews.
    • Implement due diligence and anti-bribery controls.
    • Staff training and awareness raising.
    • Management of non-compliances and corrective actions.
    • Review of Management and the Compliance Function Manager.

    The relevant requirements of the stakeholders regarding their obligations to comply with both the applicable legal framework and the anti-bribery legislation, as well as their participation in the EMS, have been incorporated into the operation of the company through the EMS documents.

    In the above context, the Firm's management is committed to supporting the implementation, monitoring and maintenance of the CPD, which will be periodically reviewed, revised and improved as necessary, in order to continuously ensure its regulatory compliance with both the applicable legal framework and the anti-bribery framework.

    The executives and employees of PANEL NETWORKS SA and third parties working on its behalf are not allowed to offer, promise or bribe anyone, as well as to solicit a bribe from anyone.

    This policy is binding on the management, officers, employees and any other person involved in the operation of the business, including any external providers and professional partners of any kind.

    Failure to comply with this policy, whether unintentionally or intentionally, may result in disciplinary action by those involved as well as criminal prosecution in accordance with applicable anti-corruption laws.

    This Anti-Bribery Policy is communicated and available to all interested parties and is reviewed periodically by the Company's Management.