Capital Anti-Bribery Policy
Capital strictly prohibits any form of bribery. That includes the giving or receiving of bribes and the offering of bribes or requests for them.
What is Bribery?
Bribes may take many forms, but they include improper payments, gifts, entertainment and any kind of financial advantage, of any value, given or received by or on Capital’s behalf with the intention of:
Capital recognises that it is a criminal offence for a company or an individual to give or receive a bribe. It is also an offence to offer or to ask for a bribe. This applies to acts of bribery committed anywhere in the world.
Penalties
Bribery and corruption are serious criminal acts; if there is a conviction, it could result in imprisonment for a number of years or an unlimited fine or both, as well as dismissal from employment. A criminal action can also be brought against Capital, resulting in an unlimited fine and serious reputational damage.
Facilitation Payments
Facilitation payments are the giving of anything of value to speed up routine government action (for example, customs inspections, visa processing and certain permits/licenses). These are also known as “expediting payments” or “grease payments”.
Capital understands that they are illegal and should not be made. If there are any doubts whether a payment you are being asked to make is illegal, you should contact the legal department for advice and guidance.
Gifts and Entertainment
Exchanging courtesies such as modest gifts, meals and entertainment is a common practice meant to create goodwill and establish trust in business relationships. Entertainment and nominal value gifts may be appropriate as long as such courtesies are not specifically intended to influence any procurement, sale or business decisions of any kind or at any level. Any such courtesies should be consistent with the business, customs and practice of the place where they are offered or received.
The following may therefore be given or received:
Government Officials
You should not exchange or give modest gifts, meals and entertainment to any Government Official without prior written authorisation from Capital.
Gifts and entertainment over USD$500
Any gifts or entertainment (including meals) or any services provided which have a value of over USD500 or its equivalent in local currency must be reported in writing to a Capital Director before it is decided whether to accept them, to pass them on to Capital, to a charity or to return them.
You must not accept or give gifts or entertainment which are or might appear excessive in the circumstances. You may only accept or give gifts or entertainment if you satisfy yourself of the following:
Records
You may not approve a payment on behalf of Capital or make such payment if any part of the payment is to be used for any purpose other than that described in the document supporting the payment. All receipts and disbursements must be fully and accurately described in Capital’s books and records and must be supported by the appropriate documents.
Associated persons
Capital is responsible for acts of its agents, consultants and other companies and their employees which act on its behalf. If you become aware of any activity which you know or suspect amounts to bribery, you should report it to the legal department immediately.
Capital strictly prohibits any form of bribery. That includes the giving or receiving of bribes and the offering of bribes or requests for them.
What is Bribery?
Bribes may take many forms, but they include improper payments, gifts, entertainment and any kind of financial advantage, of any value, given or received by or on Capital’s behalf with the intention of:
- Improperly influencing the judgment of others about Capital’s products and services.
- Gaining an improper advantage when; selling Capital’s goods or services, conducting business transactions or representing Capital’s interests.
- Improperly influencing the decision making of any Government official in order to gain business or a business advantage for Capital.
- Making a personal gain.
Capital recognises that it is a criminal offence for a company or an individual to give or receive a bribe. It is also an offence to offer or to ask for a bribe. This applies to acts of bribery committed anywhere in the world.
Penalties
Bribery and corruption are serious criminal acts; if there is a conviction, it could result in imprisonment for a number of years or an unlimited fine or both, as well as dismissal from employment. A criminal action can also be brought against Capital, resulting in an unlimited fine and serious reputational damage.
Facilitation Payments
Facilitation payments are the giving of anything of value to speed up routine government action (for example, customs inspections, visa processing and certain permits/licenses). These are also known as “expediting payments” or “grease payments”.
Capital understands that they are illegal and should not be made. If there are any doubts whether a payment you are being asked to make is illegal, you should contact the legal department for advice and guidance.
Gifts and Entertainment
Exchanging courtesies such as modest gifts, meals and entertainment is a common practice meant to create goodwill and establish trust in business relationships. Entertainment and nominal value gifts may be appropriate as long as such courtesies are not specifically intended to influence any procurement, sale or business decisions of any kind or at any level. Any such courtesies should be consistent with the business, customs and practice of the place where they are offered or received.
The following may therefore be given or received:
- Meals – reasonable value, occasional meals.
- Entertainment – occasional attendance at ordinary sports or cultural events.
- Gifts – occasional gifts of nominal value, such as pens, diaries or small promotional items.
Government Officials
You should not exchange or give modest gifts, meals and entertainment to any Government Official without prior written authorisation from Capital.
Gifts and entertainment over USD$500
Any gifts or entertainment (including meals) or any services provided which have a value of over USD500 or its equivalent in local currency must be reported in writing to a Capital Director before it is decided whether to accept them, to pass them on to Capital, to a charity or to return them.
You must not accept or give gifts or entertainment which are or might appear excessive in the circumstances. You may only accept or give gifts or entertainment if you satisfy yourself of the following:
- Intent – that the intent is just to build a business relationship or offer normal courtesy, not to influence the recipient in making a business decision.
- Size and frequency – that it is sufficiently modest and infrequent that the recipient does not feel obliged to do something in return (cash or an equivalent of cash eg vouchers should not normally be given or accepted unless they are normal practice in that country eg small cash gifts at Chinese New Year).
- Legality – that it is legal in your country and in the country of the other person and is allowed by the other person’s organisation. You should be particularly sensitive in dealing with government officials as they usually have strict rules about giving and receiving gifts and entertainment.
- Transparency – that you and the other person would not be embarrassed if the gift or entertainment became public.
Records
You may not approve a payment on behalf of Capital or make such payment if any part of the payment is to be used for any purpose other than that described in the document supporting the payment. All receipts and disbursements must be fully and accurately described in Capital’s books and records and must be supported by the appropriate documents.
Associated persons
Capital is responsible for acts of its agents, consultants and other companies and their employees which act on its behalf. If you become aware of any activity which you know or suspect amounts to bribery, you should report it to the legal department immediately.
