STAR-RISER shows no tolerance toward corruption, violations of the principles of fair competition and other breaches of the law – and where these do occur, we take swift action.
However, compliance means much more than just adhering to laws and to the regulations. Compliance forms the basis for all our decisions and activities, and it is the key to integrity when conducting business. Our premise is this: Only clean business is our business.
This applies worldwide and at all levels of the organization. In addition to combating corruption and competition and export-control violations, the Compliance Department also protects our company against fraud and money laundering as well as safeguards personal data and human rights.
How does our compliance system look like?
The STAR-RISER compliance system comprises a comprehensive system of measures to ensure our business is always carried out in full accordance with the law as well as with our internal principles and rules. In the process, we also want to instill the notion of responsible conduct in everything that we think and do.
Our Compliance System is divided into three levels of action: prevent, detect and respond. Preventive measures include, for example, compliance risk management, guidelines and procedures, and comprehensive training and advising of employees. Communication channels such as our “Tell us” reporting system as well as fair internal investigations are indispensable to recognizing and resolving matters of misconduct. Unambiguous responses and clear consequences serve to punish misconduct and eliminate weaknesses. The responsibility all managers carry for compliance is the overarching element above these three levels.
Code of Conduct for our business partners
STAR-RISER has required its suppliers and business partners with an intermediary function to adhere to a code of conduct.
It covers legal compliance in general and our anticorruption policies in particular, including provisions against anticompetitive practices and conflicts of interest. We systematically identify potential risks in our supply chain and collaborate with our business partners and to ensure they comply with our Code of Conduct.
IN OUR BUSINESS PROCESSES
Selection and monitoring of our business partners
Under certain circumstances, we can be held legally responsible for the actions of its business partners. We counter this risk by taking a comprehensive approach to selecting our partners, by contractually obliging them to adhere to our Code of Conduct, and by monitoring the ongoing collaborations. This process covers the entire life cycle of the business partnership.
One of our selection criteria is to collaborating only with partners with high quality EU certified products.