105 KENANGA INVESTMENT BANK BERHAD Annual Report 2022 • Anti-Trust and Fair Competition Practices Kenanga is committed to acting fairly, responsibly and professionally when dealing with its clients. The Board and Senior Management set the tone from the top as the moral compass, inculcating a strong culture of fair business dealing to ensure that we operate in a transparent, ethical and sound manner. The Group Competition Act Cvompliance Policy (“Competition Policy”) specifies the principles of fair business dealing of Kenanga and prohibits any practices that may be construed as anti-competitive. The Competition Policy is also built on ensuring an effective and clear stand to prevent or minimise the risk of competition law infringements and to help Kenanga to promptly detect any infringements that do occur. • Whistleblowing Kenanga has established the Group Whistleblowing Policy and Guidance Notes (“Whistleblowing Policy”) which allows any parties to speak up of their concerns relating to any behaviours, conducts, practices or omissions that are either unlawful or irregular. The Whistleblowing Policy also assures and provides safeguards for any parties speaking up in good faith. In our Ethics Survey 2022, more than 90% of the employees responded stating their confidence to raise concerns within Kenanga without fear of reprisal. This is a positive sign of effective communication by Kenanga on the commitment and determination to address any unlawful or irregular behaviours, conducts, practices or omissions the right way. • Common Reporting Standard (“CRS”) In compliance with the CRS requirements, Kenanga had submitted the financial account information of non-resident clients to the Inland Revenue Board of Malaysia (“IRBM”) in June and July 2022 respectively. The submission involved ninety (90) entities and funds of Kenanga that have been registered with the IRBM for CRS purposes. • Fraud Awareness Campaign Kenanga has been a Corporate Alliance Partner of the Association of Certified Fraud Examiners (“ACFE”) since 2015, a partnership program which denotes commitment of Kenanga to the fight against fraud through educational opportunities and setting of the tone from the top. As part of the annual Fraud Awareness Campaign of Kenanga, the 6th Fraud Awareness Week (“FAW”) was again held in 2022 under the theme ‘Reaffirming Ethical and Moral Resilience for Good Governance’. The initiatives and activities for the FAW were executed across five (5) weeks, which began on 12 October 2022 towards the International FAW of the ACFE from 13 November 2022 until 19 November 2022. Apart from promoting fraud prevention and detection, the FAW seeks to reaffirm the commitment and belief of Kenanga in the importance of ethical and moral values in shaping good governance whilst moulding the corporate culture that thrives within the current evolving and transforming regulatory landscape. This also corresponds to the United Nations Global Compact's 10th Principle which emphasises on the need for businesses to work against corruption in all its forms. The FAW had also illustrated the emphasis of Kenanga on the ‘Governance’ pillar in line with the drive towards ensuring environmental, social and governance (“ESG”) compliance. Kenanga had expanded our internal campaign that began six (6) years ago to create awareness of the importance of fighting fraud to the financial industry and in such process, remain committed to continue emphasising the importance of accountability, integrity and good governance to an even greater audience. PROVISION OF TRAINING AND AWARENESS PROGRAMS Kenanga recognises that effective communication is key to ensure that employees understand their roles and responsibilities in order to safeguard the interests of Kenanga and our stakeholders. Therefore, in 2022, GRCS has enhanced training programs as an extended effort in building ethical and compliance culture from within. Further, the impact of COVID-19 pandemic has accelerated the need for innovation and technology, including transformation from instructor-based to online-based training. Premised on the same, Kenanga has reformed the method of training delivery by leveraging on technology more than ever. This also allows us to reach out to a larger audience residing in various places where Kenanga is present. ETHICS AND COMPLIANCE STATEMENT
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