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COMPLIANCE CORE PRINCIPLES
1. DEFINITION
The Compliance Core Principles is a set of rules articulated by DREAMLINE COMMODITIES LTD. (the Company) in internal compliance documents and implementation of the Company’s Compliance Program. The guideline defines Compliance Risk as well as its management and maintenance of general and outbound cases realized, in the context of the Company’s supervision and highlights a number of principles towards effective Compliance.
2. CORE PRINCIPLES
Principle 1
The Company’s Board of Directors is responsible for overseeing the management of the Compliance Risk. The Board approve Compliance rules and regulations, including a formal document establishing a permanent and effective Compliance Function. At least once a year, the Board or the Compliance Risk Committee of the Board should assess the extent to which DREAMLINE is managing its Compliance Risk effectively.
Principle 2
The Company’s Senior Management is responsible for the effective management of the Company’s Compliance Risks and their maintenance.
Principle 3
The Company’s Senior Management is responsible for establishing and communicating the Compliance Policy, for ensuring that it is observed, and for reporting to the Board of Directors on the management of Compliance Risk within the Company.
Principle 4
The Company’s Senior Management is responsible for establishing a permanent and effective Compliance Function within the Company as part of the Compliance Policy.
Principle 5
The Company’s Compliance Function is independent.
Principle 6
The Company’s Compliance Function has all the resources and overall access to carry out its responsibilities effectively.
Principle 7
The responsibilities of the Company’s Compliance Function are to assist Senior Management in managing effectively Compliance Risks faced by the Company. If some of these responsibilities are carried out by staff in different departments, the allocation of responsibilities to each department are clear and transparent.
Principle 8
The scope and breadth of activities of the Compliance Function is a subject to periodic review by an internal / external audit function.
Principle 9
The Company is in compliance with applicable laws and regulations in all jurisdictions in which it conducts business, and the organization and structure of the Compliance Function and its responsibilities are consistent with local and supranational legal and regulatory acts / requirements.
Principle 10
The Company’s Compliance is regarded as a core Risk Management activity within DREAMLINE. Specific tasks of the Compliance Function may be outsourced, but they must remain the subject to appropriate oversight by the Head of Compliance and/or CEO of the Company. DREAMLINE is committed to the highest standards of the Compliance and the Compliance Risk Management.