There are an increasing number of complex compliance standards and requirements imposed on businesses. Fives is exposed to these risks, and if they occurred they could have a significant negative effect on its activities, its reputation or its prospects.
That is why Fives has implemented a comprehensive system to secure its operations as part of a continual process to identify, analyze and reduce the risks of non-compliance.
82
%
of employees
received the Code of Conduct
Investors, suppliers and clients are placing greater emphasis on their partners’ compliance. The Group’s newly created Compliance Department will help secure our operations by coordinating our actions.
Clément Bascoul
Group Compliance Officer
In 2018, the process to monitor the risks of non-compliance (notably in terms of combating corruption, compliance with competition law, ethics, whistleblowing, customs and inspecting dual-use goods) was reinforced.
It is now coordinated and managed at Group level by a Compliance Department, reporting to the Deputy General Manager who performs the duties of the Chief Compliance Officer for the Group.
Fives projects are carried out with ethical principles in mind which are vital for the Group, such as zero tolerance to corruption.
To support employees with their assignments, Fives has implemented a process to share best practices as well as awareness and training actions in terms of business ethics in order to prevent the risks linked to corruption.
Changes to European and US legislation in terms of economic sanctions has encouraged Fives to increase its control, awareness and training of management and business teams regarding the compliance of export operations.
Analysis tools unique to our organization have been developed and deployed with all Group contacts, supplemented by access to the most efficient databases on the market. All of these actions are coordinated jointly by the Group Compliance Officer, the International Department and the Group’s Legal Department.
In 2018, the process to monitor the risks of non-compliance (notably in terms of fighting corruption, compliance with competition law, customs and control of dual-use goods) was reinforced.
It is now coordinated and managed at Group level by a Compliance Department, reporting to the Deputy General Manager who performs the duties of the Chief Compliance Officer for the Group.
Fives projects are carried out with ethical principles in mind which are vital for the Group, such as zero tolerance to corruption.
To support employees with their assignments, Fives has implemented a process to share best practices as well as awareness and training actions in terms of business ethics in order to prevent the risks linked to corruption.
Changes to European and US legislation in terms of economic penalties has encouraged Fives to increase its control, awareness and management and operational team training efforts regarding export operation compliance.
Analysis tools unique to our organization have been developed and deployed with all Group contacts, supplemented by access to the most efficient databases on the market. All of these actions are coordinated jointly by the Group Compliance Officer, the International Department and the Group’s Legal Department.
