Compliance legislation

COMPLIANCE WITH LEGISLATION AND REGULATIONS

Suidwes is a respected organisation with a high regard for retaining a good reputation in respect of legal and regulatory compliance. The good reputation of Suidwes is the result of years of effort and judicious management. Suidwes is however aware that such reputation can be damaged in an instance by the injudicious, reckless or improper behaviour of one employee. In line with good corporate governance, as stated in the King III report as well as IFRS, all employees are expected to tailor their behaviour to the specific principles contained in the Compliance Program (“Compliance Program”). The Compliance Program forms an integral part of Suidwes’ risk management framework.

The Compliance Program consists of the following:

  • The Compliance Policy (“the Policy”)
  • The Compliance Framework (“the Framework”)
  • The Compliance Horizon (“the Horizon”)

Any violation of the Policy can have serious consequences for employees and directors alike, such as prosecution, claims for damages, fines and the termination of services. Similarly, any employee who is in violation of the Policy cannot be acting in the best interest of Suidwes, since any legal offence can harm the organisation and be to the detriment of its financial sustainability.

The Suidwes Compliance Program has the following objectives:

  • To formally communicate Suidwes’ philosophy and approach with regard to compliance with legislation, regulations and codes.
  • To motivate the reasons for establishing a compliance function, as well as the approach taken in the managing the risk associated with compliance.
  • To establish liability for non-compliance.
  • To serve as a reference point for employees in their daily work situations.
  • To aid employees in the prevention of violations and to encourage employees to familiarize themselves with regard to the legislation and rules that are applicable to them in the execution of their duties.

For enquiries or assistance in regard to compliance matters, contact the Group Chief Legal Officer
Derék Linde by 018 581 1022 of derekl@suidwes.co.za