Hungary’s Finance Sector Emphasizes Importance of Ethics and Compliance
In recent years, Hungary’s finance sector has placed a strong emphasis on the importance of ethics and compliance. As part of this effort, Ceva Group has implemented an Ethics and Compliance Program that outlines expected conduct for all employees and third-party partners.
Commitment to Ethical Business Practices
According to Marc Prikazsky, CEO of Ceva Group, “As we pursue our objectives, we must at all times continue to conduct ourselves and our business in a manner that is in compliance with the law, and with the principles of integrity, loyalty and respect.”
Ethics and Compliance Program
The program is designed to ensure compliance with national and international laws and regulations as well as ethical standards. It includes various resources within Ceva Group, including:
- Code of Ethics and Business Conduct: defines ethics and compliance risk and outlines roles and responsibilities of all employees
- Anti-bribery and Corruption Policy: ensures global compliance
- Prevention of Money Laundering and Terrorist Financing Policy: prevents illegal activities
- International Sanctions Policy: enforces international sanctions
Expectations for Business Partners
Ceva Group also expects its suppliers, contractors, and other business partners to share its commitment to operating with integrity and in a lawful and ethical manner. The company has developed a set of principles for business partners that summarizes the values outlined in its Code.
Training and Support
To help employees understand their responsibilities under the Ethics and Compliance Program, Ceva Group provides:
- Training on ethics and compliance matters: educates employees on program requirements
- Intranet website: contains information on the program and contact details of the Ethics and Compliance Department
The company’s Ethics and Compliance Department is responsible for providing support to all departments and ensuring that employees understand their roles and responsibilities under the program. The department is headed by Chief Ethics and Compliance Officer Valérie Mazeaud and includes managers Tony Strait and Anne Fotso.
Reporting Irregularities
Ceva Group has several internal avenues available for employees to report actual or suspected misconduct, including:
- Normal business channels: employees can report irregularities through regular business processes
- Alert system: an anonymous reporting mechanism is also available
Employees who report irregularities are afforded confidentiality and protection against any retaliation or reprisals.
Monitoring and Enforcement
The company monitors its business activities through regular audits to confirm adherence to the law and Ceva Group guidelines and policies. Any person found to be involved in wrongdoing may be subject to disciplinary procedures or contract termination.
Conclusion
Ceva Group’s commitment to ethics and compliance is a key part of its efforts to maintain trust with its stakeholders and ensure that its business activities are conducted in an ethical and responsible manner.