Anti-Bribery and Corruption Policy

Introduction

The Fractions Ltd t/a Prefinance.co.uk is committed to conducting business in an ethical and honest manner, and we take a zero-tolerance approach to bribery and corruption. This policy outlines our stance and procedures to prevent bribery and corruption within our operations, particularly when dealing with our financial clients.

Scope

This policy applies to all employees, contractors, consultants, and any other third parties acting on behalf of The Fractions Ltd t/a Prefinance.co.uk.

Definition

  • Bribery: Offering, giving, receiving, or soliciting something of value to influence a business outcome improperly.
  • Corruption: Abuse of entrusted power for private gain.

Key Principles

  1. Zero Tolerance: We do not tolerate any form of bribery or corruption.
  2. Compliance: All employees and associated parties must comply with the UK Bribery Act 2010 and relevant industry regulations.
  3. Transparency: Business dealings must be transparent and accurately documented.

Employee Responsibilities

  • Avoid Bribery: Do not offer, promise, give, request, or accept bribes.
  • Report Suspicious Activity: Report any suspected bribery or corruption to your line manager or the Compliance Officer immediately.
  • Gifts and Hospitality: Ensure any gifts or hospitality given or received are reasonable, proportionate, and documented in the Gifts and Hospitality Register.

Procedures

  1. Risk Assessment: Regularly assess the risk of bribery and corruption in our business activities, especially when dealing with financial clients.
  2. Due Diligence: Conduct due diligence on potential business partners, suppliers, and clients to mitigate bribery risks.
  3. Training: Provide regular training to all employees on anti-bribery and corruption laws, this policy, and related procedures.
  4. Whistleblowing: Encourage a culture of openness and provide channels for employees to report concerns confidentially without fear of retaliation.

Compliance Monitoring

Regular Audits: Conduct regular audits of financial transactions and business activities to detect and prevent bribery and corruption.

Policy Review: Review this policy annually to ensure its effectiveness and compliance with current laws and regulations.

Consequences of Non-Compliance

Disciplinary Action: Any employee found to be in breach of this policy may face disciplinary action, up to and including termination of employment.

Reporting and Contact Information

If you have any questions or need to report an incident, please contact:

By adhering to this policy, Fractive Ltd t/aThe Fractions aims to maintain the highest standards of integrity and accountability in all our business dealings.