Conflict of Interest Rules

What is a Conflict of Interest?

A conflict of interest occurs when an employee’s personal interests or those of associated individuals conflict with the company’s interests. In such situations, the employee may face challenges in making independent and fair decisions for the company.

Personal Interests

An employee must refrain from any financial or other types of interests related to their own or their family members’ (spouse, parents, children, siblings) interests. If an employee may make or influence decisions that could harm the company’s interests, it is considered a personal conflict of interest.

Personal Relationships and Business Decisions

Employees should avoid making business decisions for the company based on personal relationships. For example, decisions favorable to family members, friends, or close acquaintances could harm the company’s interests.

Relationships with Competitors

Employees should refrain from working for or advising competitor companies. Additionally, employees should avoid owning shares or other equity in competitor companies to prevent harm to the company’s activities.

Confidentiality and Information

Employees must avoid using confidential company information for their own or third-party interests. Disclosing confidential information or misusing it constitutes a conflict of interest.

Financial Interests

Employees must not enter into personal or financial relationships with the company’s suppliers, clients, or other business partners. These relationships could affect decisions made in the company’s best interest.

Gifts and Bribes

Employees must not accept expensive gifts, services, or other benefits from suppliers, clients, or other third parties. Accepting gifts and bribes can create a conflict of interest.

Disclosure Obligation

If an employee encounters a conflict of interest or believes one may arise, they must immediately report it to management or the designated ethics officer. In such cases, the employee should clearly distinguish between their personal interests and the company’s interests.

Any conflict of interest may undermine the employee’s ability to act in the company’s best interests, potentially harming the company’s reputation and operations. Therefore, employees must always prioritize the company’s interests over their own personal interests.