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Dedication to transparency - Chief Compliance Officer |
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With the appointment of a Chief Compliance Officer in 2003, BASF was the first German major company to create such a position. He is responsible for managing the continuous progress of the program and also oversees a network of regional compliance coordinators.
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Zero tolerance for legal violations
The Compliance Program demonstrates BASF’s commitment to integrity in the workplace and the negative implications that can result in its absence. Legal violations by employees can severely damage the company’s reputation and the trust of stakeholders in it. Thus, the company will not tolerate any abuse. The Compliance Program aims to inform every employee of the applicable corporate and legal policies that apply to their work environment.
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Trainings on how to apply the Code of Conduct
In the initial phase between 2000 and 2002, BASF AG alone conducted approx. 70 information sessions to introduce its Values and Principles. In addition, employees at BASF sites worldwide were trained with respect to the guidelines and the Compliance Program by procedures particularly shaped for the different regions. A central support office offered extra help by supplying informative literature and advisory services and by establishing an international network of local coordinators within BASF. In ongoing specific training programs employees learn to apply the Code of Conduct in every day work. In some countries a telephone hotline provides another means of assistance besides contacting superiors or a worker’s representative if there are uncertainties concerning the behaviour of oneself or others.
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The Chief Compliance Officer - expert and independent
With the appointment of a Chief Compliance Officer in 2003, BASF was the first German major company to create such a position. He is responsible for managing the continuous progress of the program and also oversees the network of regional compliance coordinators. Based on many years of experience within the BASF Group he possesses the necessary insight in facts and issues and on the other hand - giving advice as attorney-at-law - has got the necessary independence for his function.
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