Regulatory compliance system

Regulatory compliance system

As proof of the commitment acquired by our company with the ethical culture, integrity and compliance with regulations, SAERCO has had a REGULATORY COMPLIANCE SYSTEM in place since 2017, through which it promotes compliance, both by the company, as well as its managers, administrators, employees and collaborators, with the external and internal regulations applicable to SAERCO.

The fundamental rule of this System is the company's Code of Conduct, mandatory for employees, administrators, collaborators and managers, which includes SAERCO's values and ethical principles that govern its relations with its stakeholders (employees, customers, partners, partners, administrators, collaborators and suppliers), and establishes the mandatory implementation of prevention and control elements to ensure compliance.

This Code has been developed by means of two internal rules, approved by the Board of Directors:

  1. Criminal Risk Prevention Policy: which defines SAERCO's commitment to the prevention, detection, avoidance and control of the commission of crimes and is mandatory for employees, administrators, collaborators and managers, as well as any third party related to the company.
  2. Criminal Risk Prevention Program (PPRP): which establishes the model of prevention, management and control of criminal risks; defining the possible crimes, regulating the processes and controls to prevent the commission of such crimes, designating the bodies responsible for such control, and regulating the procedure for processing complaints of non-compliance.

For the execution of these rules, SAERCO has implemented an organizational model based on two levels of security. The first level is formed by Directors, Managers and Heads of each of the organizational areas who are responsible for the daily management of criminal risks, proposing adequate controls and ensuring their implementation and compliance by the personnel under their charge.

The second level of security is carried out by the Regulatory Compliance Committee, as the body responsible for promoting knowledge of the Code of Conduct, the Policy and the Program for the Prevention of Criminal Risks, as well as ensuring their compliance, and resolving conflicts arising from non-compliance or non-compliance with the risk controls implemented, based on the reports issued by the Directors in this regard.

The Regulations of the Regulatory Compliance Committee regulate the organization and operation of the Regulatory Compliance Committee, as well as the procedure for processing the communications it receives within the scope of its competencies.

The Regulatory Compliance Committee reports directly to the Board of Directors, and has a Support Unit, which is the Compliance Officer, whose function is to collaborate with, advise and support the Regulatory Compliance Committee in the exercise of its functions.

Regulatory compliance system

SAERCO's General Management has promoted the implementation and integration of this Regulatory Compliance System in the company, following the line of responsible management that has marked the company's actions to date.