Competition Law Policy Competition is vital. It enables businesses to compete on a level playing field in the market, while constantly striving to offer customers the best possible products at the best possible prices. Competition stimulates Schréder’s drive for innovation and long-term economic growth. Schréder promotes fair competition and encourages its employees and intermediaries to play by the rules. Our Competition Law Policy sets out competition rules for doing business with suppliers, distributors and customers, as well as our dealings with competitors and trade organisations. Competition risks are regularly assessed, identified and effectively managed. Policies are in place to minimise these risks and to mitigate their impact. Regular and mandatory training is provided throughout the organisation to raise awareness on this important topic. Fraud & Corruption Fraud and corruption undermine fair trade and equal treatment of business partners. Most countries have anti-fraud and anti-corruption laws. Violations of these laws and regulations are not only contrary to our principles and values but can also affect the company’s reputation and result in significant civil and criminal penalties. Schréder is committed to conducting business in an honest and ethical manner.
We condemn any form of fraud or corruption at all levels of the company. Our Anti-Bribery and Anti-Corruption (ABC) policy is designed to ensure that all employees always maintain the highest standards of professional and personal behaviour and avoid any form of fraud or corruption, or the appearance thereof. The appointment of each Intermediary (agent, distributor, etc) is subject to a rigorous and formal due diligence process. Since 2020, this process is applied to all Intermediaries that are appointed within the Group. Data protection Schréder takes compliance with personal data and privacy laws very seriously. The Legal and HR departments closely monitor Schréder’s compliance with these laws. The company has initiated many important measures in recent years, particularly from 2018, which have resulted in increased transparency of internal and external personal data flows throughout the entire organisation, both in Europe (GDPR compliance) and in other parts of the world.
16.5 - Substantially reduce corruption and bribery in all their forms.
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