Anti Bribery & Corruption Policy
Introduction, purpose and scope of the policy
Bribery is an offence which can be committed by organisations which fail to prevent persons associated with them from bribing another person on their behalf.
An organisation that can prove it had “adequate procedures” in place to prevent persons associated with it from bribing will have a defense.
What counts as adequate will depend on the bribery risks an organisation faces and the nature and size of the organisation.
Purpose of the policy
This policy:
• Outlines the measures which Fincapital Partners takes to prevent bribery and the procedures that should be followed if bribery occurs. It aims to help the organisation to establish a defense and to minimise any operational or reputational risks associated with individuals giving or taking bribes on its behalf.
• Is designed to assist employees and persons associated with the organisation to understand the risks associated with bribery and to encourage them to be vigilant and effectively recognize, prevent and report any wrongdoing, whether by themselves or others.
• Aims to provide suitable and secure reporting and communication channels and to ensure that any information that is reported is properly and effectively dealt with.
• Aims to create and maintain a rigorous and effective framework for dealing with any suspected instances of bribery or corruption.
Scope of the policy
The policy applies to all employees, volunteers, trustees, officers and consultants.
Definitions
Bribery and corruption
It is illegal to give or receive a bribe and organisations are liable for bribes taken or given on their behalf where they do not have adequate procedures in place.
Bribery is the offering, promising, giving, accepting or soliciting of money, a gift or other advantage as an inducement to do something that is illegal or a breach of trust in the course of carrying out an organization’s activities.
Corruption is the misuse of public office or power for private gain; or misuse of private power in relation to business outside the realm of government.
What is a bribe?
Bribes can take on many different shapes and forms, but typically they involve corrupt intent. There will usually be a ‘quid pro quo’ – both parties will benefit. A bribe could be the:
• Direct or indirect promise, offering, or authorization, of anything of value.
• Offer or receipt of any inducement, loan, fee, reward or other advantage.
• Giving of aid, donations or voting designed to exert improper influence.
Examples of bribery may include:
• A potential supplier offering money or a gift in order to influence a tendering process.
• A job applicant offering payment in order to increase his/her chance of being offered employment.
Facilitation payments
Facilitation payments are payments which induce officials to perform routine functions they are otherwise obligated to perform. Facilitation payments are bribes and there is no exemption for them under the Bribery Act. Facilitation payments do not include legally required administrative fees and legitimate fast-track services. Facilitation payments are particularly prevalent in certain overseas countries.
Gifts and hospitality
These can range from small gifts (such as diaries, flowers, vouchers, food and drink) to expensive hospitality (invitations to hosted meals, receptions and tickets for major events, holidays etc.). Hospitality or promotional expenditure which is proportionate and reasonable is unlikely to qualify as a bribe. However, extravagant gifts and hospitality may be used to disguise bribes that are intended to induce improper behaviour (e.g. to fix the outcome of a tendering process).
Responsibilities
Chief Executive
The Chief Executive is responsible for ensuring that these policies and procedures are implemented consistently and with clear lines of authority. The Chief Executive and Executive Leadership Team will actively and visibly lead the Fincapital Partners anti-bribery policy and practice.
Managers
Managers are responsible for holding their direct reports to account. They are responsible for ensuring that the services the Fincapital Partners provides are properly planned and that risks are assessed and managed in line with this policy.
Individuals
Individuals are expected to safeguard and uphold the Fincapital Partners core values by operating in an ethical, professional and lawful manner at all times. Individuals are responsible for not giving or receiving bribes and challenging instances where bribery may occur. They are also responsible for reporting all bribery that they are aware of via the procedures laid out in this policy.
To place this in context, individuals should be aware that if they engage in activities which are contrary to the anti-bribery and corruption legislation, they could face several years in prison and/or a fine, and the Fincapital Partners could also be liable to Government sanction.
Compliance with the Fincapital Partners policy in relation to bribery and corruption is regarded as part of an individual’s contract of employment. Any member of staff found to have accepted or attempted bribery or made facilitation payments will be subject to disciplinary action, including dismissal.
Individuals must not offer money to any public officials in order to speed up service or gain improper advantage. This type of bribery is a “facilitation payment” and is illegal. In the unlikely event that an individual is faced with a demand for a facilitation payment, such payment must be actively resisted.
Bribery prevention
Organizational commitment
Fincapital Partners operates a zero-tolerance policy towards the giving or receiving of bribes.
Fincapital Partners committed to tackling bribery at the highest level and clearly articulates its zero-tolerance policy on its website and internally within the intranet.
In order to prevent bribery, Fincapital Partners recognizes that it should:
• Assess whether the charity is at risk and, if so, the level of that risk.
• Put in place procedures proportionate to the risk identified.
• Show a clear commitment to the prevention of bribery.
• Use due diligence to assess who we deal with and who we appoint to represent us.
• Communicate, train and raise awareness among employees and business partners.
• Monitor and review procedures.
Risk assessment
Effective risk assessment lies at the very core of the success or failure of this policy. Risk identification pinpoints the specific areas in which Fincapital Partners may face bribery and corruption risks and allows the organisation to better evaluate and mitigate these risks and thereby protect itself.
Fincapital Partners will carry out a risk assessment of the key risks facing the organisation in respect of bribery and corruption and review these risks, on an annual basis. Fincapital Partners recognizes that the threat of bribery varies across countries, areas of work, partners and transactions and that it must respond proportionately to those risks.
Recruitment
Fincapital Partners recognizes that good anti-bribery practice starts from the outset of employing an individual. It therefore ensures that all employment contracts prohibit the giving or receiving of bribes on behalf of Fincapital Partners.
In addition, a programme of staff communication and training is provided to those employees working in areas of perceived higher risk.
Working with service suppliers and in partnerships.
Fincapital Partners requires all staff, suppliers and partners to ensure that, where appropriate:
• Key service suppliers and partners are selected through a transparent and competitive selection process.
• Due diligence is carried out on partners and key suppliers before entering into contracts in accordance with the procurement policy.
• Any conflicts of interest are declared.
Charitable and political donations
A political contribution is a donation made to a politician, a political party or a political campaign. Charities are not permitted to make political donations and therefore political donations are not permitted under any circumstances.
Employees, volunteers and Trustees should ensure that any donation received or made by Fincapital Partners is not an incentive to conduct its business improperly.
Communication
All people described in the scope of this policy must understand and comply with Fincapital Partners anti-bribery policy. To ensure that this is communicated, Fincapital Partners publishes this policy on its website and internally within the intranet.
Record-Keeping
Many serious global bribery and corruption offences have been found to involve some degree of inaccurate record-keeping. Fincapital Partners must ensure that we maintain accurate records and financial reporting within Fincapital Partners and for significant business partners working on our behalf. Our records and overall financial reporting must also be transparent. That is, they must accurately reflect each of the underlying transactions.
Procedures – Action that employees, and people involved in Fincapital Partners activities should take if they are offered or asked for a bribe
How to evaluate what is ‘acceptable’:
First, take a step back and ask yourself the following:
• What is the intent – is it to build a relationship or is it something else?
• How would this look if these details were on the front of a newspaper?
• What if the situation were to be reversed – would there be a double standard?
If you find it difficult to answer one of the above questions, there may a risk involved which could potentially damage the Fincapital Partners reputation and business. The action could well be unlawful.
Never acceptable
Circumstances which are never permissible include examples that involve:
• A “quid pro quo” (offered for something in return).
• Gifts in the form of cash/or cash equivalent vouchers.
Usually acceptable
Possible circumstances that are usually acceptable include:
• Modest/occasional meals with someone with whom we do business.
• Occasional attendance at cultural or similar events.
• Gifts of nominal value, such as pens, or small promotional items.
Individuals should reject demands for or offers of bribes and Fincapital Partners anti-bribery stance should be made clear. Staff should report any such approaches immediately to the CEO.
Where bribery is suspected or where it occurs
To enable proper investigation, you should record the details of any bribery or requested or attempted bribery, as soon as possible after the event. Any instances of actual or potential bribery should be properly and promptly investigated.
The objectives of an investigation should be to:
• Confirm whether or not a bribe has taken place, and to identify who was responsible.
• Confirm whether internal controls and anti-bribery procedures have worked in practice.
• Identify any improvements required to anti-bribery procedures.
Depending on the findings of the investigation, subsequent action will be determined. This may involve disciplinary action against staff involved or external reporting to:
• A senior official or director of another organisation, if the person making the bribe is from that organisation.
• Local police/ law enforcement agencies (if deemed appropriate).
• Relevant government department where the bribe took place.
Monitoring and review
This policy will be reviewed annually or after a significant change in operations or a significant incident, whichever is sooner.
Reviewed – Sept 2023