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Policy Statements

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ANTI BRIBERY & CORRUPTION POLICY STATEMENT

Ocorian has a zero-tolerance appetite towards bribery and corruption and is dedicated to upholding ethical standards and is committed to the prevention of bribery and corruption by adhering to all relevant anti-bribery and corruption legislation across all jurisdictions in which it operates.

Ocorian has in place an anti-bribery and anti-corruption policy (the Policy) supported, where relevant, by appropriate procedures. The Policy prohibits (inter alia) the making, offering or promising to make, requesting, accepting or receiving a payment (including any service, gift or entertainment) for any improper purpose or business advantage. The Policy applies to all employees of Ocorian, and its group companies and all business undertaken and structures administered by those entities and is reviewed on a regular basis to ensure that it is up to date with the most recent regulatory requirements and best practice in all jurisdictions.

Ocorian is committed to achieving the highest standards of ethical conduct and Ocorian ensures that employees, clients, business partners and third parties with whom Ocorian has a business relationship, understand the Group’s policies and procedures in relation to Anti Bribery and Corruption and are aware of their responsibilities to act in compliance with applicable legislation. This includes compliance with all laws, domestic and foreign, prohibiting improper payments or inducements to any person, including Public Officials (as defined under applicable law). 

Ocorian promotes a culture of compliance across the Group to ensure that the risk of bribery and corruption is appropriately managed throughout the life of the business relationships in which it engages.

Appropriate due diligence is carried out on business partners and third parties with whom Ocorian has a business relationship to mitigate the risk that they are engaged in bribery or corrupt practices.

Before any transactions occur or services are provided, Ocorian will require confirmation of awareness of the applicable law from all clients (by means of an Engagement Letter (or equivalent)) and relevant third parties, such as consultants, those holding power of attorneys and those to whom Ocorian has outsourced or delegated a function (by means of an appropriate declaration), together with  confirmation that, where relevant, they have in place appropriate anti-bribery and anti-corruption policies and procedures of their own; or otherwise conduct themselves in such a manner as to adhere to the applicable law and this policy statement. All payments must be made on clear payment terms (including clarity in relation to what is being paid for). 


Ocorian has procedures in place requiring the reporting of any knowledge or suspicion that any client, relevant third party or employee is involved in any way in bribery or corruption. 
 

CRIMINAL FINANCE ACT 2017 & ECONOMIC CRIME AND CORPORATE TRANSPARENCY ACT 2023 POLICY STATEMENT

As a firm, we value our reputation for ethical behaviour and for financial probity and reliability. We do not tolerate tax evasion or corporate fraud, or the facilitation thereof in any circumstances, where committed by a client, personnel or associated persons/companies and we are committed to the highest standards of integrity, transparency in all our business operations.

We are committed to fighting corporate fraud, economic crime and tax evasion and have rigorous policies and procedures in place to detect and prevent the facilitation of offences.

Top-Level Commitment: The Executive Committee provides clear leadership in emphasising the Code of Conduct and compliance in line with the Group’s corporate values and in fostering a culture of accountability.  This commitment is backed up by robust policies which together form the fraud prevention framework.

Risk Assessment:  risk assessments are conducted throughout the Group to assess the nature and extent of its exposure to the risk of staff and third parties committing fraud in scope of the offence. These assessments are dynamic and reviewed regularly to address emerging threats.

Fraud prevention procedures are proportionate to the fraud risks identified and to the nature, scale and complexity of the Group’s fund and corporate services activities.  Ocorian believes these to be practical, effectively implemented, and enforced and that they minimise opportunities for fraud within its operations and throughout the supply chain.

Due Diligence: risk-based due diligence checks are performed in respect of persons who perform or will perform services on behalf of Ocorian, in order to mitigate fraud risks which have been identified.

Communication: Fraud prevention policies and procedures are clearly communicated to all employees and associated persons through mandatory training programmes and ongoing IT fraud awareness initiatives. Staff are educated to recognise indicators of fraud, and to understand Ocorian’s whistleblowing procedures.

Monitoring and Review: Ocorian monitors and reviews its fraud detection and prevention procedures, leveraging technology where possible and appropriate, to ensure their ongoing effectiveness. Learning points from any investigations, whistleblowing incidents, and sector developments contribute to targeted improvements and adapting controls to evolving risks. 

Ocorian has procedures in place requiring the reporting of any knowledge or suspicion that any client, relevant third party or employee is involved in any way in tax evasion or corporate fraud offences. 
 

MODERN SLAVERY STATEMENT

What is modern slavery? 
Modern slavery is a fundamental breach of human rights. It is a global industry which takes many forms, such as slavery, servitude, forced or compulsory labour, and human trafficking. It is the responsibility of organisations and individuals around the world to eradicate this practice which, according to a 2016 UN study, claimed more than 40 million victims in that year alone. It is, therefore, of critical importance that organisations ensure that slavery and human trafficking are not taking place in their businesses or in any of their supply chains.

The law on modern slavery 
The Modern Slavery Act 2015 came into force in the UK on 29 October 2015. It created specific offences aimed at tackling slavery and human trafficking. The legislation also requires commercial organisations, incorporated or carrying on business in the UK, supplying goods or services with a turnover in excess of £36 million, to publish a slavery and human trafficking statement each financial year in order to demonstrate the steps it has taken to ensure that slavery or human trafficking are not taking place in its business or its supply chains.

Our business 
Ocorian is a global business with 1600+ staff in 20 international locations. While Ocorian is a provider of financial services, the business has a number of suppliers, consultants and contractors working in a range of sectors such as catering, facilities management, office services, information technology and marketing. Ocorian has in place a comprehensive due diligence process for each of our clients in a number of our 
jurisdictions and we are committed to implementing this across the business as we continue to expand. We also have in place an on‐boarding process for employees in each jurisdiction which complies with national laws, such as evidence of right to work, contracts of employment and ensuring employees or apprentices are 16 or over.

The business is committed to corporate social responsibility, the purpose of which is to build relationships and leave a lasting legacy on society and the environment. 

The risks 
In the sector in which Ocorian operates the risk of modern slavery is low but that does not mean that we take our responsibilities lightly. While we have in place a number of controls and initiatives to tackle modern slavery and other criminal behaviour, there are still steps we want to take in order to ensure that such abhorrent practices do not form part of our business or the businesses of our clients. 

The highest risk of modern slavery would be in our supplier chains, especially in high‐risk sectors such as catering and office services, as well a business undertaken in high‐risk locations. It is our responsibility to ensure that those with whom we enter into business are not involved in slavery or human trafficking at any stage in the provision of their services.

The approach taken to approve and monitor each client will be proportionate depending on the client's (and its sector's) risk‐rating. Our aim is to make all clients and suppliers aware of our collective responsibilities in relation to modern slavery and put in place systems and controls to monitor suppliers across jurisdictions in 
accordance with their assigned risk‐rating.

Ocorian is committed to making all employees aware of modern slavery and its ramifications as well as putting  in place a procedure, as part of our whistleblowing policy and procedure, for confidentially reporting any suspicion of slavery or human trafficking.

Our policy 
The Ocorian group, and the entities which fall thereunder, adopts a zero‐tolerance approach to slavery and human trafficking and all forms of corruption and bribery directly and indirectly associated with these criminal acts.

We are committed to ensuring that slavery or human trafficking does not form part of our, or our clients’, business. We also aim to support a culture where any suspicion of modern slavery is raised with us in confidence and without delay.

Ocorian's slavery and human trafficking statement is reviewed annually.  
 

SANCTIONS AND SCREENING POLICY

As a global service provider, the Group is committed to combatting financial crime and protecting the integrity of the global financial system. The Ocorian Group is required to comply with the applicable sanction laws and regulations in all the jurisdictions in which the Group operates.

Ocorian has in place a sanctions and screening policy (the Policy) supported, where relevant, by appropriate procedures. The Policy prohibits (inter alia) the conduct of any business that would breach any part of a sanction or embargo. The Policy applies to all employees of Ocorian, and its group companies and all business undertaken, and structures administered by those entities. 

Ocorian is committed to achieving the highest standards of ethical conduct and to ensuring that its business is conducted in a manner which adheres to and upholds both the spirit and the letter of applicable sanctions and embargoes. This includes continually monitoring and ensuring compliance with local and international sanctions and embargoes, including those issued by the US Office of Foreign Assets Control, the United Nations, the European Union, the United Kingdom, and other relevant individual government bodies. 

Before any transactions occur or services are provided, Ocorian will determine whether an applicant for business or client, an owner or controller of that applicant or client, or a third party on whose behalf the applicant or client acts, is itself or is involved or does business with a sanctioned or embargoed person, regime, or jurisdiction. The Policy does not prohibit Ocorian from dealing with persons connected with sanctioned regimes or jurisdictions, provided that the sanctions or embargoes are not relevant to that person, or an asset or activity of that person. 

As part of Ocorian’s new business take on policy, Ocorian will require confirmation of awareness of the applicable law from all clients and their agreement not to undertake any activities, business or transactions which may contravene relevant sanctions and embargoes, applicable law, or this policy statement.

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