35 How We Are Governed Financial Statements Shareholders’ Information Additional Information REGULATORY COMPLIANCE We recognise that regulatory compliance is pivotal in driving the Group’s overall operational integrity and in preventing financial crimes throughout our business operations. It reinforces our internal risk control mechanisms and provides greater reliability for our stakeholders. Constant update of regulatory developments and regular communication with our regulators are key to keeping ourselves abreast with regulatory and compliance updates, while continuous learning and training help ensure our employees uphold the highest integrity and standards across the Group. Building A Robust Compliance Culture A key component of our strategy to build a compliance culture includes designing training programmes and awareness initiatives to embed our principles of ethics and integrity so that they are integrated throughout every level of our workforce. Our Group Prudential Supervision & Regulatory Affairs Department is responsible for ensuring that our employees are aware of all regulations, standards and best practices that apply to the Group. Some of the key measures we implement include: All regulatory issuances and updates are compiled and communicated to employees every week as and when they are updated by the regulators. All new employees are required to complete training on ethics and regulatory compliance-related matters, including code of ethics, AFBC, AML/CFT/TFS and conflicts of interest upon joining the Group while all existing employees are required to complete training and refresher courses on an annual basis. Organise an Annual Regulatory Seminar through which we reinforce our standards of conduct on matters such as conflicts of interest, fraud, bribery and corruption, AML/CFT/TFS and whistleblowing. Our key ethics and regulatory compliance policies have been made available online to all employees via the Policy & Procedure Governance System, an internal repository platform containing our policies and procedures. As part of our Awareness and Understanding Programme, we conduct annual e-tests to reinforce our employees’ grasp and knowledge of good governance and business practices. In 2021, over 90% of our employees completed these e-tests, of which more than 95% of them achieved a score of 80% and above in these tests. 01 02 03 04 05 Zero-Tolerance of Financial Crime Kenanga takes a zero-tolerance approach to all forms of financial crime including bribery, fraud, corruption, the direct or indirect financing of terrorism, money laundering, proliferation financing and any other forms of illicit activity connected to unethical business practices. In 2021, we recorded zero reported or confirmed incidents of bribery and corruption. For more information on our measures on preventing financial crimes and our Annual FAW, please refer to the Ethics and Compliance Statement, on page 108 of this Annual Report.
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