Business ethics and anti-corruption measures

While demonstrating a severe position against corruption, ASCO approved the Guidelines on the Business ethics and anti-corruption measures and established “Hot Line” communication center by the Order No. 167 dated September 2, 2014, for the purposes of timely detection and prevention of prospective negative circumstances, taking precautionary measures and exercising unified control over these issues and extension of relations with employees and the public. The Guidelines regulate the issues relating to the timely detection, prevention of corruption offences, fraudulent activities and the elimination of their results, as well as,  the implementation of anti-bribery activities, determination of the fundamental principles and requirements in this field, including the responsibilities and responsibilities of employees in the prevention of corruption. The main principles of the Guidelines are the following : strengthening confidence and trust  between the employer and the employee, avoiding the improper execution of duties, creation of conditions that exclude the cases of bribery by professional staff, protection of human and civil rights and freedoms, ensuring the justice within the activities of the company,  creation of a uniform understanding about the non-admittance of corruption by ASCO in the government authorities, structural subdivisions of ASCO, its employees and other persons, minimizing corruption risks in ASCO, increasing transparency in the activities of ASCO, and adoption of the main rules and regulations to be followed. The Guidelines set out the respective rights and responsibilities for ASCO and employees.

The Code of Business Ethics (Code) was approved by the Order No 262, dated  December 30, 2015, to ensure the proper support of ASCO`s business reputation and to govern the relations relating to business conduct of, conduct regulations and principles and compliance thereof. The major principles of the Code consist of the following such as the application of uniform and accurate ethical norms and  values, including  the principles of professional conduct within ASCO, as well as, in relation with the counterparts and third parties, and creation and support of the truthful, honest, trustworthy and mutual respect environment at ASCO, ensuring transparency in the activities of ASCO and increasing its reliability in respect of its business partners, suppliers, customers, other counterparts, government authorities and third parties, and mitigation of the risks, associated with  unethical behaviour of employees or objectively improper conduct, or behaviour that is contrary to applicable law, that may affect the company reputation adversely. Under the Code, the executives and employees of  ASCO, including the employees of the  subordinate entities shall, while performing the duties deriving from their positions and performing activities on behalf of ASCO or its subordinate entity and irrespective of the term of their employment, adhere to ethic norms and values as set forth in the Code by respecting human and civil rights and freedoms and being guided by the principles of  legality, humanism and other democratic principles and higher ethical standards of conduct.