Compliance

The term "compliance" literally means "fulfillment", "observance", or "obedience". In a business context, "compliance" has the sense of adhering to the arrangements and obligations both statutorily and internally applicable to a company and its employees.

The observance of laws and business arrangements are the basis of the lasting commercial success of our company and its collaboration with business partners, customers and colleagues.

Statement of Compliance

To provide the employees with a practical guide to the type of behavior that is in keeping not only with the law but also our company aims and objectives, ALTANA has drawn up its own code of conduct. This sets binding standards for management and employees at the companies of the ALTANA Group. If there should be any doubt as to whether a certain type of behavior or action conforms to the requirements of the code of conduct or not, the employees should seek advice from their line manager or from a dedicated department such as the legal department or HR.

Illegal and irresponsible conduct damages the company, its employees, partners, customers and suppliers, and also its shareholders. It is the duty of every member of staff to prevent illegal conduct on the part of the company itself and its employees and to contribute to the discovery and cessation of illegal conduct. The Compliance Hotline gives the employees the opportunity to supply evidence of illegal conduct, if need be, anonymously and independently of hierarchy.

The Compliance Committee is responsible for the development and implementation of the Compliance Management System. The Compliance Committee consists of the officers responsible for the different areas covered by the system. It is chaired by the General Counsel of ALTANA in his or her role as Chief Compliance Officer. Each member of the Compliance Committee is assigned system responsibility for their area. In particular, they are given a coordination role. They must ensure that the necessary steps are taken in the different companies to guarantee compliance and, where required to do so, advise and support local manage­ment in implementing or improving systems. They should also provide for an exchange of information about courses of action in the matter of compliance between the companies in the ALTANA Group.

The Compliance Management System aims to assist in ensuring that people conform to the legislation, regulations, and internal company rules, the non-observance of which means substantial risks for the company. The aim of the Compliance Management System is therefore to identify the main risks that might arise if the laws and rules are infringed, making certain that the staff are trained in the content and significance of the laws and regulations relevant to them and that further direct provision is made to prevent the laws and internal regulations from being infringed.

In addition, the Compliance Management System aims to ensure that the necessary control mechanisms are implemented so that statutory and regulatory infringements can be detected and remedied. The Compliance Management System covers various areas that might affect ALTANA, such as antitrust legislation, corruption, foreign trade, taxes, environment, and security.

It is not the aim of the Compliance Management System, however, to stipulate how compliance with legislation and company guidelines is to be guaranteed at each individual company within the ALTANA Group; rather, it seeks to compile and present in collated form the various measures that are taken by the individual companies in the Group to guarantee compliance. Only where system weaknesses or required improvements are identified, should the Compliance Management System render assistance in developing the local systems further. Only in very few areas, such as antitrust legislation or fighting corruption, are group-wide arrangements planned.