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Compliance

Compliance, in the sense of measures to ensure adherence to statutory requirements and internal company policies is a key management duty at ThyssenKrupp. Core topics of the ThyssenKrupp Compliance Program are anti-corruption, adherence to antitrust law, data protection and the prevention of money laundering.

The Executive Board of ThyssenKrupp AG has unequivocally expressed its rejection of antitrust violations and corruption in the ThyssenKrupp Compliance Commitment. It contains a clear commitment to compliance with the law and internal policies: violations, in particular antitrust and corruption violations will not be tolerated (zero tolerance). All reports of misconduct will be pursued. To implement the Compliance Commitment a transparent leadership culture based on the Group mission statement is subject to continuous improvement. ThyssenKrupp employees have a personal responsibility regarding the adherence to the compliance requirements. In addition, our leaders carry an entrepreneurial responsibility for the consistent implementation of the Compliance Program. In fulfilling this task, employees and leaders are supported by the Compliance Function.

 

Structure and elements of the Compliance Program

 

Compliance Program

The Compliance Program is part of the risk management of ThyssenKrupp and closely interlinked with the risk management functions and systems as well as the internal control system. The Compliance Program is an integral part of the so-called Three-Lines-of-Defence model which has been implemented by ThyssenKrupp. The model shows at which level (line) the various responsibilities for risk management lie within the Group. At the same time it serves to define responsibilities within the corporate governance model. Compliance is part of the second line of defence. Close integration of the internal control system, risk management system and compliance management system maximizes the efficiency of risk prevention and management.

Our Compliance Program on anti-corruption, antitrust law, data protection and the prevention of money laundering is based on three pillars – "inform", "identify", and "report and act". It is regularly updated internally and reviewed externally on the basis of the applicable legal requirements as well as by auditors.

 

Inform

The worldwide training programs carried out by the compliance officers in which our employees learn about compliance requirements and risks especially in the areas of anti-corruption, antitrust law, data protection and the prevention of money laundering as well as possible sanctions are the central component of the "inform" pillar of our compliance program. The compliance requirements which are stipulated in group-wide policies have been derived from applicable law and also serve to implement international standards. For example, they include rules regarding the conduct vis-à-vis competitors and business partners, regarding invitations and gifts and also the prohibition of so-called facilitation payments.

In August 2012, the third cycle of the e-learning program was initiated. Also, in September 2013 a global e-learning program for compliance managers was launched, aimed at informing them about their role in implementing the compliance program in the operating units. In addition, we carry out regular webinars on current issues and keep employees informed with internal newsletters.

We also provide compliance advice on key business transactions, e.g. in connection with major projects or on the engagement of intermediaries. For this the employees can contact their compliance officers in the business areas, regions and at Corporate or call our central hotline. The compliance officers advise the operating units on integrating compliance into their business processes.

 

Identify

Basis for the strategic development of the Compliance Program is a group-wide assessment of anti-trust, corruption, money laundering and further compliance risks. The Identification of these risks allows for the development of individual catalogues of measures to mitigate the specific risks. The defined measures are implemented by the group companies with the support of the Corporate Function Compliance.

The "identify" pillar of the compliance program further focuses on regularly reviewing critical business operations based on a risk-oriented, structured, audit process. An additional element in the identification of compliance risks is our whistleblower system. Alongside the options of directly contacting a supervisor or the compliance department, this provides employees with a further channel for reporting possible infringements of laws or policies without revealing their identity. Here, the focus is on antitrust and anticorruption compliance. Information submitted via an online form or the hotline – which can be contacted from anywhere in the world and is toll-free – is forwarded for further internal review. In addition ThyssenKrupp has established an ombudsman as a further contact for employees wishing to report information.

The ombudsman works on behalf of ThyssenKrupp but is authorized to pass on information without naming the informant. Regardless of the source, all information concerning misconduct is systematically followed up in an internal review. It is ensured that no employee suffers disadvantages as a result of reporting information in good faith to the ombudsman or whistleblower system. Third parties (customers, suppliers, etc.) can also contact the whistleblower hotline or the ombudsman.

 

Report and act

The third pillar "report and act" signifies intensive compliance reporting in all three dimensions of the ThyssenKrupp matrix. In the event of proven infringements, we systematically impose sanctions on the basis of clearly defined processes.

 

Zero tolerance

Our experience shows that the basis for successfully implementing the compliance program is a corporate culture that stands for values such as openness, transparency and credibility. The actions of the company and its employees are guided by these values – as part of the corporate responsibility of managers for compliance. ThyssenKrupp has a clear commitment to ensuring compliance with the law and internal policies: violations, particularly of antitrust and anticorruption rules, will not be tolerated under any circumstances.

 

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