Our compliance department has formulated several protocols including: Integrity and Compliance Measures, Anti-fraud Management and Employee Behavior Awards and Punishment Regulations, and Protection and Reward Reporters and Audit Monitoring Workflow. The protocols allow us to monitor and/or coordinate the prevention, investigation and governance of possible fraud and business ethics violations. All MOLBASE employees are required to sign the MOLBASE staff integrity commitment, while customers are required to sign the Integrity Agreement - Customer. Severe fraud or business ethics violations will be reported directly to the chairman of the Board, who will review the relevant executive decisions afterwards. Regular management meetings will also be used as a forum to discuss and widely inform management on identified fraud cases.
Moreover, we have an Employee Handbook and MOLBASE Staff Integrity Commitment in place to stipulate the requirements on our employees’ business ethics which includes, but not limited to, civilized business, courteous hospitality, law-abiding, authenticity, fairness and integrity, etc.
In order to strengthen the management of anti-bribery and business ethics management policies, we have provided training to increase the awareness of our employees, important customers, and agents. Some of the training we provided on our requirements include “newcomers anti-bribery training,” “annual anti-bribery training,” “management warning education conference,” and “honesty presentations”, to name a few. In addition, the Company has launched the first election of anti-fraud spokespersons since 2018. Excellent employees are elected to be the anti-bribery representative for all employees in the way of spokesperson election.
We have started using our WeChat official account as an anti-bribery hotline and have provided an e-mail address as well for reporting. Reported cases are received by trained individuals. Any instances of bribery are always relayed to employees for further understanding and training of the significance of anti-bribery and anti-fraud measures. We have also formulated Anti-Bribery Management and Staff Behavior Awards and Punishment Regulations to reward and protect the privacy of real-name reporters.
There are no anti-fraud related lawsuits that have occurred or have been concluded for MOLBASE during 2019.Back to ESG Governance page