Anti-Corruption Policy
At IFPSCO, we are dedicated to maintaining the highest standards of integrity, transparency, and ethical conduct in all aspects of our operations. This Anti-Corruption and Code of Ethics policy outlines our commitment to preventing corruption, promoting fair practices, and ensuring compliance with applicable laws and regulations within the sports and management industry.
1. Zero Tolerance for Corruption
IFPSCO has a zero-tolerance policy towards any form of corruption, including bribery, extortion, fraud, and embezzlement. We are committed to preventing and addressing any corrupt practices within our organization.
2. Compliance with Laws
All employees, contractors, and partners must comply with anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, and local anti-corruption regulations in the countries where we operate.
3. Prohibition of Bribery
No Bribes: Offering, giving, receiving, or soliciting bribes or any other form of improper payments, whether directly or indirectly, is strictly prohibited.
Facilitation Payments: IFPSCO prohibits facilitation payments, which are small payments made to expedite routine governmental actions.
4. Gifts and Hospitality
Permissible Gifts: Modest gifts and hospitality may be allowed if they are reasonable, proportionate, and made transparently. They must not influence, or appear to influence, business decisions or create an obligation.
Approval Process: All gifts and hospitality exceeding a nominal value must be approved by senior management and properly recorded.
5. Third-Party Relationships
Due Diligence: Conduct thorough due diligence on all third parties, including agents, consultants, and business partners, to ensure they adhere to anti-corruption laws and ethical standards.
Contractual Obligations: Include anti-corruption clauses in all contracts with third parties to ensure compliance with this policy.
6. Sponsorships and Donations
Transparency: Ensure that all sponsorships and donations are transparent, properly documented, and not used as a conduit for corrupt activities.
Approval: Require senior management approval for all sponsorships and donations exceeding a specified amount.
7. Reporting and Whistleblowing
Reporting Mechanism: Employees and stakeholders are encouraged to report any suspected corruption or unethical behavior through designated whistleblowing channels without fear of retaliation.
Protection for Whistleblowers: IFPSCO guarantees protection for whistleblowers against any form of retaliation or adverse action.