Compliance Program
and all members of Taihan are actively involved.
Taihan has introduced the Fair Trade Compliance Program and has been putting efforts to build the culture of compliance. We consider Fair Trade is our duty to comply but not an option. All executives and employees of Taihan, including myself, will do our best to abide by the relevant law and regulation in connectiond to the Fair Trade.
CEO of Taihan.
CP
The Compliance Program (CP) is an internal compliance system operated voluntarily by a company to establish culture of transparent and fair market competition. In order to preemptively and actively comply Fair Trade laws and regulations and monitor any potential violation of laws and regulations that may occur during business activities, Taihan has introduced CP to fulfill its corporate responsibilities and roles.
Eight Key Elements of CP
Taihan implements the following eight key elements to run CP effectively.
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Implementation of CP Protocols
Adequate standards and protocols shall be established and implemented so that members of the Company can clearly understand and practice obligations under fair trade-related laws and regulations.
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Expression of CEO's own volition and willingness to supportCP
The CEO publicly declares his/her intention to implement CP and its policy and show willingness to support CP actively
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Appointment of Compliance Manager
Appoint compliance manager and delegate appropriate authority to take control of effective CP operation.
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Publication of Compliance Manual
A compliance manual shall be issued under the responsibility of the compliance manager, which shall include relevant fair trade laws and regulations, CP standards and protocols. It shall be published in the form of an electronic document to enable members of the Company to access and utilize easily.
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Education/training of Compliance Program
Regular education and training shall be provided for the CEO, executives and employees in the purchasing and sales departmentswho may be prone to violation of Fair Trade laws and regulations.
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Setting up internal Monitoring System
Monitoring system, by way of auditing, shall be in place to prevent and detect any potential violation of Fair Trade laws and regulations. Monitoring report shall be submitted to the Board for review (at least twice a year).
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Employ penalties
Company’s bylaw shall govern penalties for members of the Company including executives for violation of relevant Fair Trade laws and regulations. Any degree of penalties shall fairly correspond to the severity of violation. Members of the Company shall actively report any violation, and respond appropriately as part of pre-emptive action.
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Performance evaluation and implementation of Corrective Actions
For effective CP performance, periodical review and evaluation about the CP performance, standards, protocols, etc. shall be carried out, and appropriate corrective actions shall be followed accordingly.
CP Organization and Roles
Compliance Manager
Compliance Team
CP operator (each Team)
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Compliance Manager
- The General Manager of CP activities
- The Chairperson of the Compliance Council
- Report to the Board of Directors on CP activities.
- Prepare preventive measures and corrective actions related to CP activities.
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Compliance Council
- Discuss internal CP related issues.
- Review in advance whether there are any violations of the Fair Trade laws and regulations
- Play a role of CP-related communication channel
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CP Team
- Responsible for CP activities.
- Monitor CP activities.
- Train employees.
- Support Compliance Council.
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CP Operator (Each team)
- Responsible for CP activities by department
