風(fēng)險管理與合規(guī)課件

RiskManagementand

RegulatoryCompliance

風(fēng)險管理與合規(guī)

AsiaPacificFinanceandDevelopmentCenter

亞太財(cái)經(jīng)與發(fā)展中心

WorldBankInstitute

AlexVanderpolJune19,2008Complianceadvisesoncompliancerisk

合規(guī)對合規(guī)風(fēng)險提出建議Complianceriskistheriskof:

legalorregulatorysanctions,

materialfinancialloss,or

harmtoreputation

thatabankmaysufferasaresultofitsfailuretocomplywithrelevantlaws,regulations,principlesandrules,standardsandcodesofconductapplicabletoitsactivities,inletterandinspirit.合規(guī)風(fēng)險是指，由于未遵照適用于公司活動的相關(guān)法律、法規(guī)、原則、法則、行為規(guī)范與準(zhǔn)則，公司可能會遭受法律或法規(guī)的制裁，物質(zhì)上的財(cái)務(wù)損失，或者使聲譽(yù)受損的風(fēng)險。

Provideadvisoryandobjectivesupport

提供咨詢和客觀支持Alignwiththebusinessandhelpprovideindependentviewandadviceontheexecutionofstrategyandoncase-specificissues

根據(jù)公司業(yè)務(wù)，提供有關(guān)戰(zhàn)略執(zhí)行和具體案例方面的獨(dú)立觀點(diǎn)和建議Understandstrategyandbusinessandapplythisunderstandinginitsrisk-basedapproachtoensurethatproportionatemeasuresaretakentocomplianceissuesandrisk

理解公司戰(zhàn)略和業(yè)務(wù)，并將這一理解應(yīng)用于基于風(fēng)險的方法，以此確保對合規(guī)問題和合規(guī)風(fēng)險已采取了適當(dāng)?shù)拇胧㊣mplementbusinessspecificlawsandregulations

實(shí)施與業(yè)務(wù)相關(guān)的法律法規(guī)Provideguidanceandsupportonissuesrelatedtolawsandregulations

對與法律法規(guī)相關(guān)的問題提供指導(dǎo)與支持Monitortheexecutionofinitiativesandensureallactivitiesarecompliantwithrelevantpoliciesandprocedures

監(jiān)控倡議的執(zhí)行情況，確保所有活動都遵照相關(guān)政策和程序Assistmanagementinmanagingrisktothebusiness

協(xié)助管理層管理業(yè)務(wù)風(fēng)險AssistManagementinidentifying,measuringandmitigatingcompliancerelatedrisk

協(xié)助管理層發(fā)現(xiàn)、測量并減少合規(guī)風(fēng)險Partnerwiththebusinessinmonitoringlevelofriskstohelpachievesuccessfulimplementationofstrategicinitiatives

和業(yè)務(wù)一起監(jiān)控風(fēng)險水平，幫助公司成功實(shí)施戰(zhàn)略倡議Complianceprovidesacentralroleinmonitoringdeliveryandminimisingrisk合規(guī)在監(jiān)控公司行為和使風(fēng)險最小化上扮演著重要作用KeyComplianceAreas:

關(guān)鍵的合規(guī)領(lǐng)域：III.MarketConduct

市場行為I.ClientAcceptanceandAnti-MoneyLaunderingPolicy

客戶接受度與反洗錢政策(CAAML)II.DealingwithCustomers

與客戶打交道ClientAcceptanceandAnti-MoneyLaundering客戶接受度與反洗錢Sanctions

制裁ConflictsofInterest

利益沖突ChineseWalls

中國墻MarketAbuse

市場濫用IV.OtherCompliancetopics

其他合規(guī)話題PersonalAccountDealingPolicy

個人賬戶處理政策GiftPolicy/BriberyandCorruption

送禮政策/賄賂與腐敗

Whistleblowing

揭發(fā)WhenyouneedtoNotifyCompliance

何時需注意合規(guī)Confidentiality

機(jī)密性Communication&Marketing溝通與營銷

ClientClassification

客戶分類Suitability

適宜Appropriateness得當(dāng)Recordkeeping

檔案保管I.ClientAcceptanceandAnti-MoneyLaundering(CAAML)Policy

客戶接受度與反洗錢政策KYCKnowYourCustomer

了解你的客戶ClientAcceptance/DueDiligence

客戶接受度/盡職調(diào)查MoneyLaundering&TerroristFinancing

洗錢與恐怖份子籌資活動Sanction

制裁IdentificationVerificationRiskAssessmentTransactionSurveillanceRiskRe-assessmentReviewRelationshipAMLRISK

反洗錢風(fēng)險Geography

地域Industry

行業(yè)Product

產(chǎn)品ClientlifeCycle客戶的生命周期Exit?退出？231InitialRisk

Assessment:ClientAcceptanceAndKnowYourCustomer初始風(fēng)險評估：客戶接受度，了解你的客戶OngoingRiskAssessment:進(jìn)行中的風(fēng)險評估：Anti-MoneyLaunderingCAAML/Sanctions反洗錢/制裁PeriodicalRiskRe-assessment(orchangeinclientprofile/incidental)定期風(fēng)險再評估（或客戶情況/附帶事件的變化）交易監(jiān)測風(fēng)險評估核實(shí)識別風(fēng)險再評估關(guān)系考察MoneyLaundering&TerroristFinancing

洗錢及恐怖分子籌資活動“MoneyLaundering”istheintroductionofillegallygainedassetsintothelegalfinancialsystemwiththeaimofconcealingordisguisingtheirtrueorigin.“洗錢”是將非法獲得的資產(chǎn)融入合法的金融體系中，目的在于隱瞞或者掩飾它們的真實(shí)來源。MoneyLaunderinggenerallytakesplacein3steps:洗錢活動一般分三步進(jìn)行：Placement

放置“theintroductionofillegallygainedassetsintothelegalfinancialsystemwiththeaimofconcealingordisguisingtheirtrueorigin.”

將非法獲得的資產(chǎn)融入合法的金融體系中，目的在于隱瞞或者掩飾它們的真實(shí)來源Layering

移轉(zhuǎn)“thesourceoftheillegallyobtainedfundsisobscuredthroughasuccessionoftransfersandtransactionstogivethemappearanceoflegitimacy”

通過連續(xù)轉(zhuǎn)移和交易將非法獲得的資金的來源模糊化，使它們看起來合法Integration

整合“Inorderthatthosesamefundscaneventuallybemadetore-appearaslegitimateincome.”

使這些資金最終以合法收入的身份再次出現(xiàn)ExamplesofothersourcesforMoneyLaundering&TerroristFinancing

洗錢及恐怖分子籌資的其他來源舉例Drugs

毒品Prostitution

賣淫IllegalWorkers(Humantrafficking)

非法勞工（販賣人口）Fraud

欺騙Theft

偷竊Smugglinggoodsand/orarms

走私商品/武器

TaxFraud

稅務(wù)行騙CounterfeitingCurrency

偽鈔Kidnapping

綁架Extortion

敲詐勒索IllegalGambling

非法賭博EnvironmentalCrimes

環(huán)境犯罪Sanctions

制裁Twomajorfinancialmarkets,theEUandtheUS,applyeconomicsanctionsincertaincasesagainstparticularcountriestosupporttheirforeignpolicyobjectives.

在某些情況下，歐盟和美國兩大金融市場對特定國家實(shí)施經(jīng)濟(jì)制裁來支持其外交政策ViolatingEUorUSsanctionlawscanputabank’scustomersatriskofincompletetransactions,frozenassetsorcriminalandcivilpenaltiesandexposeourbank/employeestoliability.

違反歐盟或美國的制裁法會將一家銀行的客戶置于不完全交易、凍結(jié)資產(chǎn)或者刑事和民事處罰的風(fēng)險之中，使銀行/雇員承受債務(wù)ParticularvigilanceisneededwhenatransactioncontainsasocalledCSI(CubanSudaneseorIranian)element.

當(dāng)一個交易牽涉所謂的CSI（古巴、蘇丹或伊朗）時，需要特別警惕VigilanceisalsoneededwhendealingwithMyanmar.

和緬甸打交道時也要非常注意II.DealingwithCustomers

與客戶打交道Confidentiality

機(jī)密性ClientClassification

客戶分類SuitabilityofAdvice

建議的適宜性Appropriateness

適當(dāng)MarketingCommunication

營銷溝通RecordKeeping

檔案保管Confidentiality

機(jī)密性Whatinformationisconfidential?

哪些信息是機(jī)密的？Allinformationrelatedtoabankthathasnotbeenmadepublic

(includinginternalmemos,policies,creditapplications,employeeandsupplierdata)

所有與銀行相關(guān)的未公開的信息（包括內(nèi)部備忘錄、政策、員工及供應(yīng)商資料）Allnon-publicinformationaboutexistingandprospectiveclients

所有有關(guān)現(xiàn)有和潛在客戶的非公開信息

Confidentialityandcommonsense

機(jī)密性與常識Becarefulwithconfidentialdocumentsinpublicplaces(sameappliestolaptops)公共場合注意機(jī)密文檔的處理（同樣適用于筆記本電腦）Becarefulwithconversationswhileinthepresenceofothers(alsoonmobilephones)有他人在場時（手機(jī)接聽電話時）注意談話內(nèi)容的保密Clearyourdeskattheendofyourworkingdayofanysensitivedocuments工作日結(jié)束時注意清理桌面上的任何機(jī)密文檔Nevershareyouruser-idandpasswordwithothers不要和他人共用你的用戶名和密碼MiFIDhighestimpactareasforABNAMRO

MiFID對荷蘭銀行施加的最高影響領(lǐng)域ClientClassification:Determinestheclientslevelofinvestmentprotection.客戶分類：決定投資保護(hù)的客戶水平BestExecution:Gettingtheclientthebestresultwhichcouldbeacombinationofprice/cost/speedofexecution,etc…最佳執(zhí)行：為客戶獲得最佳結(jié)果，可能是價格、成本、執(zhí)行速度等的組合MarketingandCommunication:Mustbeclear,fairandnotmisleading.營銷與溝通：必須清楚、公正、不具誤導(dǎo)性Appropriateness:(NonadvisedServices)Makingsure(bycarefullyrecording)thattheclientunderstandstheproductsandtherelatedrisks適當(dāng)性：（非咨詢的服務(wù)）（通過仔細(xì)記錄）確保客戶明白產(chǎn)品及相關(guān)風(fēng)險Suitability:Advisetheclient’whatsuitstheclientsbestinterestsgiventheir:適宜性：向客戶建議什么是最適合他們的最佳利益的，依據(jù)：Investmentpurpose

投資目的Assets

資產(chǎn)Income

收入Riskappetite

風(fēng)險喜好MiFIDClassification:Whattypesofclientsdowedealwith?Andwhyisitimportanttoclassifythem?

MiFID分類：我們與哪些類型的客戶打交道？為什么客戶分類很重要Sizeandexperience規(guī)模和經(jīng)驗(yàn)LevelofProtection

保護(hù)水平LargeCompanies大公司SmallCompanies小公司RegulatedFirms規(guī)管公司Individuals個人Retail零售Professional專業(yè)Eligiblecounterparty符合條件的對手Terminology

術(shù)語Suitability適宜度Appropriateness合適度NonAdvisedServices

非咨詢服務(wù)AdvisoryServices咨詢服務(wù)Doeseachtransactionmeettheclient’sobjectivesandriskprofile?每次交易都達(dá)到了客戶的目標(biāo)和風(fēng)險概況了嗎？Doestheclientunderstandtherisksoftheproductsbeingsold?客戶明白出售的產(chǎn)品的風(fēng)險嗎？Whatifitisnotappropriateandtheclientinsists?

如果不合適而客戶卻堅(jiān)持己見，怎么辦？Canyoudeal?

這個交易你能做嗎？Yes,solongaswrittenwarningisprovided可以，只要有書面警告Suitability

適宜度Whatisadvice?

咨詢建議是指？Personalrecommendationthatisadviceoninvestments(e.g.buy/sell/hold)對投資的個人建議（如購買、拋售、持有）Presentedassuitablefortheperson;or

適合于個人的，或者Basedonaconsiderationofthecircumstancesoftheperson基于對個人請況的綜合考慮的Wheretheclientcanreasonablyassumeitisarecommendation

客戶能將之當(dāng)作建議的Suitability

適宜度AdvisoryDiscretionary咨詢酌情考慮Owedtoalladvisoryclients

歸功于所有咨詢客戶Appropriateness合適度NonAdvisedServices

非咨詢服務(wù)SuitabilityofAdvice

建議的適宜度Abankmayonlygive:銀行可能會給出：-investmentadvicetoaclientor

投資建議，或者-effectadiscretionaryinvestmenttransaction影響任意的投資交易whenthisis“suitable”giventheclient’sneedsandpersonalcircumstances.只在這些建議適合客戶的需求和個人情況時Suitabilitymustbeassessedbasedon:

適宜度需根據(jù)以下條件來評估：theinformationdisclosedbytheclient,and/or

客戶透露的信息，和/或clientinformationthebankreasonablyshouldhavebeenawareof.銀行應(yīng)該注意到的客戶信息Incaseofnonadviceforaclient,nosuitabilitycheckneedstotakeplace.如果對客戶沒有做出任何建議，不需檢查其適宜度Isthisadvice?

這是建議嗎？Wehaveanumberofmarketprotectionstructuredproducts.Thesecangivetheupsidepotentialwithoutthedownsiderisk.ShallIsendsometermsheetsthrough?我們有一些保護(hù)收益的結(jié)構(gòu)性理財(cái)產(chǎn)品。他們都具有成長潛力，沒有下跌風(fēng)險。給您一些資料單行嗎？Nonadvice非建議Advice建議Inviewofyourcurrentportfolioandriskappetite,Ithinkthemostappropriateinvestmentwouldbeoneofourmarketprotectionstructuredproducts.Thesecangivetheupsidepotentialwithoutthedownsiderisk.IntermsofyourcurrentallocationsIreckonthat50-60mwouldeffecttheshiftinfrontierthatyouwant.鑒于您目前的投資組合和您的風(fēng)險喜好，我認(rèn)為最適合的投資是我們的保護(hù)收益的結(jié)構(gòu)性產(chǎn)品。他們能保持成長潛力，而沒有下跌風(fēng)險。您目前的配置方面，我想5000-6000萬會得到您想要的最佳收益。Nonadvice非建議Advice建議III.MarketConduct

市場行為ConflictsofInterest

利益沖突ChineseWalls

中國墻ControlRoom

控制室MarketAbuse

市場濫用ConflictsofInterest

利益沖突Forexample:例如：personal/bankinterest

個人利益/銀行利益bankinterests/clientsinterest

銀行利益/客戶利益-betweenclients

客戶之間的利益Manageconflictsofinterestproperly

妥善管理利益沖突Betransparentandreportinternally

透明化，內(nèi)部匯報(bào)Reallocateresponsibilities重新分配職責(zé)Informclient/askconsentifappropriate

如果適當(dāng)，告知客戶/征得客戶的同意ChineseWalls

中國墻

WhatareChineseWalls?

什么是中國墻？Barrierscreatedtorestrictorpreventmovementofinformationwithinthebank,tohelpmanageconflictsofinterestandprotecttheconfidentialityofclientinformation.為限制或防止信息在銀行內(nèi)流通而制造的障礙，幫助管理利益沖突，保護(hù)客戶信息的機(jī)密性Whatdotheylooklike?

特征？physical

物理上organisational

組織上procedural

程序上operational

操作上

ChineseWalls

Privatevs.Publicside(Continued)

中國墻：私人方面VS.公共方面（續(xù)）CommercialClients商業(yè)客戶GlobalClients全球客戶GlobalMarketsStructuredFinance全球市場結(jié)構(gòu)性金融TransactionBanking交易ChineseWallGlobalMarketsSales/Trading全球市場銷售/交易GlobalMarketsResearch全球市場研究PrivateSide

私人方面PublicSide

公共方面InformationBarrier信息障礙ChineseWalls (Continued)

中國墻（續(xù)）Inaddition,ChineseWallsallow:

此外，中國墻允許：somedefenceagainstallegationsofmisconduct

為不良行為辯護(hù)maximisationofbusinessopportunitiesacrossproductlinesby

allowingustoperformmanydifferentrolesatthesametime

通過允許我們同時負(fù)責(zé)多種不同的職責(zé)來使各個產(chǎn)品線間的商業(yè)機(jī)會最大化Examples:

舉例:CorporateFinanceadviseslistedcompanyondivestmentofsubsidiary

公司金融部對上市公司分拆子公司提供建議AcquisitionFinanceadvisesthreedifferentbidders收購金融部建議有三個不同的投標(biāo)人CreditPortfolioManagementassessesdebtcapacityforfourthbidder信貸組合管理部評估第四個投標(biāo)人的債務(wù)能力ProprietaryTradingintradinginthestocksofthelistedcompany專有交易部對上市公司股票交易提供建議PrivateClientsinprovidinginvestmentadviceonthelistedcompany

私人客戶部提供上市公司的投資建議ControlRooms

控制室AControlRoom’smainfunctions:

控制室的主要功能：Maintainingglobalmarketingandwatchlists維持全球營銷和觀察清單Maintainingglobalrestrictedtradinglists維持全球限制交易清單Identifyingpotentialconflictsofinterest識別潛在的利益沖突Clearing/recordingChineseWallcrossingsandregisteringInsiders理清/記錄中國墻間的交叉，登記內(nèi)部知情人Pre-clearanceofequityandfixed-incomeresearch提前弄清楚股權(quán)和固定收益研究Pre-clearanceofcertaintransactions預(yù)先清除某些交易MarketAbuse:MarketManipulation

市場濫用：市場操縱Spreadingfalseormisleadinginformationaboutthemarket,

orthepriceorvalueofaninvestment

E.g.spreadingarumourandfalseormisleadingnewsthroughinternet散布錯誤的或者誤導(dǎo)性的有關(guān)市場、投資價格或價值的信息

例如：通過英特網(wǎng)散布謠言或虛假新聞Actingpurelytoinfluencethepriceoffinancialinstruments

E.g.manipulatingthepriceattheclosingofmarkets

manipulatingthepriceupwardtoshowahigherportfoliovalue

(usuallyaroundmonth-,quarter-,oryear-end)

純粹為影響金融工具的價格的行為例如：操縱股市收盤價操縱價格的上升，顯示更高的投資組合價值（一般在月末、季度末或年末時）Doingtransactionsthatcreatetheimpressionofgreatersupplyand/ordemandthanexistsinreality

E.g.doingtradeswithnoeconomicbasis,undertakensimplytogive

theillusionofactivity(manipulationofvolume)做交易以制造比實(shí)際更大的供給和/或需求的印象例如：做沒有經(jīng)濟(jì)基礎(chǔ)的股票買賣，僅僅是為了給予活動頻繁的假象（操縱交易量）MarketAbuse:Insiderdealing

市場濫用：內(nèi)幕交易Insideinformationisinformationthatis:

內(nèi)幕信息是指：Precise

(aboutaneventorcircumstancesthathaveoccurredorcanreasonablybeexpectedtooccur)準(zhǔn)確（關(guān)于已發(fā)生的，或者預(yù)計(jì)很可能發(fā)生的事件或情況的準(zhǔn)確信息）Notgenerallyavailable/Notobtainablebyanalysisorresearch通常無法獲得/不能通過分析或研究獲得Ifitweremadepublic,itwouldprobablyaffectthepriceorvalue

ofthecompany/industrysectorinvolved如果公之于眾，很可能會影響有關(guān)公司/行業(yè)的價格或價值Itincludesinformationwhichcouldrelateto:它包括有關(guān)以下幾方面的信息：Issuersoffinancialinstruments

金融工具的發(fā)行者Transferablesecurities

可轉(zhuǎn)讓證券Commoditiesor商品或者ClientOrders

客戶訂單MarketAbuse:Insiderdealing(Continued)

市場濫用：內(nèi)幕交易（續(xù)）Anyoneinthepossessionofinsideinformationmaynot:任何擁有內(nèi)部信息的人不可以：Mustnotimproperlypasstheinsideinformationontosomeoneelse

不能將內(nèi)部信息不當(dāng)?shù)貍鬟_(dá)給他人Buyorsellfinancialinstrumentsofissuersforyourownorabankseconomicadvantage為自己或者銀行的經(jīng)濟(jì)利益購買或銷售發(fā)行人的金融工具Recommendorinduceanotherpersontodoeitheroftheabove建議或者勸誘他人做以上任一件事情OtherCompliancetopics

其它合規(guī)問題PersonalAccountDealingPolicy個人賬戶交易政策GiftPolicy

禮品政策BriberyandCorruption

賄賂與腐敗

Whistleblowing

檢舉揭發(fā)

PersonalAccountDealingPolicy

個人賬戶交易政策Why?原因?

Buyingorsellingsecuritieswhileinthepossessionofconfidentialpricesensitiveinformation(insideinformation)isacriminaloffenceinmostjurisdictions.在很多轄區(qū),在掌握機(jī)密的價格信息(內(nèi)部信息)的情況下買賣證券構(gòu)成犯罪行為。Takingadvantageofinformationthatanemployeegetsintheperformanceofhisorherdutiesinabankforpersonalgainisunacceptable.

銀行員工利用職務(wù)之便獲取私利是違法行為。The

appearance

ofinsidertradingmustalsobeavoided.必須避免內(nèi)幕交易的現(xiàn)象。Disclosureandtransparency信息披露和透明度Allsecuritiesaccountsofstaffandtheirconnectedparties

mustbedisclosed.

所有員工及關(guān)聯(lián)方的證券賬戶信息必須披露。Abankmustbeabletomonitortransactions

againstsubmittedrequestsforapproval.

銀行必須能夠按照提交的審批需求對交易進(jìn)行監(jiān)督。

Pre-Approval,MinimumHoldingPeriod,RestrictedTradingLists事先批準(zhǔn)，最短持有期，限制交易名單StaffMembersandconnectedpartiesmustaskpre-approvalfromtheir

line-managerand/orCompliancedepartments.

員工及其關(guān)聯(lián)方必須得到直線經(jīng)理/合規(guī)部門的事先批準(zhǔn)。Transactionsmayonlybereversedafter28dayshaveelapsed

(28dayholdingperiod).

超過28天方可進(jìn)行回購。（28天持有期）Mutualfundsarenotboundtothe28dayholdingperiodbutintradaytrading(24hours)isneverpermitted共同基金不受28天持有期的限制，但嚴(yán)禁日間（24小時）交易。Therecanbetradingdoneinsecuritiesonrestrictedtradinglists列入限制交易名單里的證券交易也可以進(jìn)行。Acceptanceofgifts

禮品接受Giftsorlegaciesmustnotbeacceptedfrom

customersorsuppliers.禁止收取客戶或供應(yīng)商贈送的禮品或遺贈品。Excessiveorabnormalentertainmentmustalsobeviewedinthislight.禁止超?；蚍钦Ｕ写顒?。Ifagiftcannotberefusedorreturned,itmaybeacceptedprovidedthatitis:

如果禮品無法拒收或退還，在下列情況下可以接收：notintheformofcash非現(xiàn)金形式notgivenintheexpectationofapayback

無獲取回報(bào)的目的ofnominalvalueonly僅有票面價值

GiftPolicy

禮品政策Presentationofgifts

禮品贈送Giftstocustomers,suppliers,governmentofficials

orintermediariesmustnotbepresentedasawayofgainingeconomicorpoliticaladvantage.不能為獲取經(jīng)濟(jì)利益或政治利益而向客戶、供應(yīng)商、政府官員或中介機(jī)構(gòu)贈送禮物。Asanexception,giftsofnominalvaluemaybepresented:例外情況：具有票面價值的禮品可以作為asacourtesy

禮尚往來forpromotionalpurposes

宣傳用途specialoccasionswherea“Bank”giftmaybeappropriate

特殊場合，“銀行”禮物比較適合的情況下贈送。

GiftPolicy禮品政策(Continued)（續(xù)）Bribery

行賄Briberyisdefinedas:行賄的定義是offering

送禮suggesting

行賄暗示paying

給予他人財(cái)物orauthorising

或授權(quán)他人從事上述行為apaymenttosomeonefortheiroranother’spersonalgainwiththeintentioneithertomotivateactiveorpassivedeviationfromadutyortosecuretheperformanceofaduty.

行賄是指出于讓他人履行職責(zé)或使他人主動或被動違背職守的目的，以謀取個人不正當(dāng)利益而給予他人財(cái)物的行為。Corruption

腐敗EffectsofCorruptiononBusiness腐敗對商業(yè)活動的影響Causesdamagetoreputation,which,inturn,causeslossofconfidenceinthemarket

損害企業(yè)形象，從而導(dǎo)致市場信心下降Increasesuncertaintyinbusiness不確定因素增多Increasescosts

成本升高Hampersinternationaltrade

阻礙國際貿(mào)易Reducesinvestment投資減少WhistleblowingPolicy檢舉政策Whatthispolicydoes?

此政策的目的？Ensurethatallstaffcanwhistleblow(evenanonymously),on(suspected)criminalorunethicalconduct

確保所有員工可檢舉（即使