Overview of MGCC’s Compliance Programme
A. Anti-Corruption and Bribery
The Malaysian Parliament amended the Anti-Corruption Commission (MACC) Act 2009 in April 2018 and introduced corporate liability for corruption offence, which applies to Malaysian commercial organisations.
MACC specified the act of corruption pursuant to Section 16 of the Malaysian Anti-Corruption Commission Act 2009 (MAAC Act) as “the act of SOLICITING, GIVING, ACCEPTING OR RECEIVING GRATIFICATION, directly or indirectly, to/from a person in authority either in the form of money, services or valuable goods as an inducement or reward to or not to do an act in relation to the person’s principal affairs. In fact, the act of BRIBERY, FRAUD, ABUSE OF POWER & MONEY LAUNDERING are all acts of CORRUPTION.”
MGCC does not tolerate any act of corruption. Furthermore, MGCC expects from every member, business partner and client to follow the same standards of zero-tolerance of corruption regarding their own business. MGCC in particular obliges all its contractual partners to monitor its employees and agents to ensure their compliance with the anti-corruption obligations It is MGCC’s policy to ensure that appropriate anti-corruption and anti-bribery procedures are established in order to avoid any violations of relevant laws and regulations.
B. Competition Law
I. Introduction and Targets
MGCC regards compliance as a matter of course as it carries out the integrity of MGCC as well as of its members. The basis of any compliance strategy is a thorough and comprehensive analysis of company-specific risks. MGCC is aware that in its pool of members and participants on its services and events are also companies which compete on national as well as international markets. This requires clear and strict measures to ensure that any of MGCC’s activity complies with national and international competition law.
II. MGCC Conduct Guidelines on Competition Law
MGCC’s Conduct Guidelines on Competition Law serve as core of MGCC’s compliance programme as they provide a rulebook with behavioural guidelines for the company’s employees and management as well for MGCC’s members. The guidelines have been developed in cooperation with competition law specialists and are periodically tested and monitored to ensure their continuing effectiveness. Furthermore, MGCC monitors developments in national and international competition law as well as in the practice of the competition agencies.
MGCC is aware that competition law protects the free, undistorted and effective competition for the benefit of consumers, enterprises as well as the society as a whole.
MGCC understands that infringements of competition law my lead to serious consequences as for instance high fines, private actions for damages, reputational damages or even the imprisonment of the responsible individuals.
As prohibited by competition law, MGCC never takes part, in particular, in
● agreements regarding
- prices, wages or any other trading conditions
- the sharing of markets, clients or sources of supply,
- the restriction of market access,
- the limitation or controlling of production, technical or technological development and/or investment,
- bid rigging,
● the abuse of dominant position by one or more enterprises.
MGCC protects the free, undistorted and effective competition also in relationship to its members, clients and business partners.
MGCC treats confidential information with strict discretion, regardless of whether this information relates to MGCC itself or thirds (i.e. competitors, customers, sales partners and suppliers).
● Confidential information is information that should not be made public and/or are protected by legal or contractual obligations.
● In particular, confidential information may consist of
- details about a company’s organization and facilities, prices, turnovers, profits, markets, clients and other business related topics,
- information regarding procedures of fabrication, research or development
- technical information
- figures from internal reporting.
In the context of market studies, MGCC only provides aggregated data that do not identify any individual company.
MGCC takes all possible measures to make sure that all of MGCC’s activities (i.e. services, meetings, events) fully comply with competition law.
MGCC’s employees will check any of MGCC’s activities in advance and throughout its entire process for compliance with competition law in cooperation with MGCC’s management and/or Compliance Officer.
In the case that a MGCC’s employee has doubts if an activity of MGCC or a third related to MGCC activities may harm competition law, the employee will immediately consult MGCC’s management and/or Compliance Officer for further clarification.
III. Employees Trainings
MGCC is aware that it is essential to make all employees familiar both with MGCC Conduct Guidelines on Competition Law as well as its practical implementation. For this purpose, MGCC’s management provides trainings to its employees consisting of a basic course in competition law matters at the beginning of their employment and periodic updates on the development of competition law in theory and practice via internal meetings, newsletters or other initiatives.
IV. Members and Participants Declarations
During the admission process of new members, MGCC transmits MGCC Conduct Guidelines on Competition Law. Before the admission is granted, MGCC requires a declaration that the new member fully complies with these rules. A corresponding explanation is also required from other participants on MGCC’s services, meetings and events. Furthermore, in the beginning of any meeting or event organized by MGCC the chairman additionally reminds all members and participants to comply with MGCC Conduct Guidelines on Competition Law.
V. Zero-Tolerance Policy
MGCC strictly does not accept any anti-competitive behaviour. As a consequence, MGCC informs its members and other participants on MGCC’s services, meetings and events that any intended or committed infringement of competition law in the context of the activities offered by MGCC will lead to the exclusion from MGCC and all its future services and events. Moreover, MGCC’s employees are aware that any involvement into an infringement of competition law will have consequences under labour law.