108 Kenanga Investment Bank Berhad Annual Report 2021 Our Sustainability Approach About This Report We Are Kenanga Message From Chairman and GMD Ethics and Compliance Statement EMPHASIS ON CORPORATE GOVERNANCE AND INTERNAL CONTROLS 2021 was another challenging year with corporations worldwide still grappling to recover from the impact of COVID-19 pandemic. This has altered business climate and places greater emphasis on responding and adapting to the changes in the operating environment. As corporations strive to improve their operations and resilience, the significance of corporate governance and internal controls are becoming more evident than ever. Despite the challenges brought about by the pandemic, Kenanga Investment Bank Berhad (“KIBB”) and its group of companies (“Kenanga Group” or “the Group”) is committed to ensure the adoption of high principles and practices of corporate governance and internal controls in managing the risks related to compliance, ethics and integrity. It is our conviction that good corporate governance contributes to the sustainability of Kenanga Group and standing strong on this belief, compliance, ethics and integrity are made central to our business activities. In this effort, Kenanga Group remains constantly alert of the regulatory developments affecting our operations and flexible in adapting to the relevant regulatory changes while fulfilling our part in supporting the country’s road to recovery. INTERNAL CONTROLS FOR COMPLIANCE, ETHICS AND INTEGRITY Kenanga Group’s commitment to strong corporate governance and internal controls is translated into the adoption of robust policies, procedures and practices that seek to provide consistent understanding to ensure continuous awareness of all employees on the expectation of the Group on compliance, ethics and integrity. Towards achieving this, the Group has established our internal controls framework which is spearheaded by the Group Regulatory and Corporate Services (“GRCS”) Division. GRCS consists of six (6) departments which cohesively functions to ensure the roles and functions of GRCS are executed timely: Group Business Ethics and Integrity Group Compliance Group Financial Crime Intelligence Group Prudential Supervision and Regulatory Affairs Group Legal Group Company Secretarial Develops and implements the applicable framework, policies and procedures towards promoting ethics and integrity in the business and operational practices of Kenanga Group Manages the overall regulatory compliance risk issues in relation to the regulated activities as per the Licensing Handbook of the Securities Commission Malaysia (“SC”) Facilitates compliance with the applicable requirements in relation to Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions (“AML/CFT/TFS”) Manages consultations with the regulators and provides sound advice to ensure compliance with regulators requirements and expectations and standardised practice across Kenanga Group Manages legal documentation and provides legal consultation towards mitigating legal risks Ensures integrity of the governance framework and compliance with statutory and regulatory requirements by Board of Directors (“Board”) as well as facilitates the communication and implementation of the Board’s decisions Considering the significant nature of roles and functions of its various departments, GRCS has an unfettered access and reports directly to the Board. This ensures independence of GRCS in providing the required advice and opinion to assist the Board for objective decision-making.
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