Our board of directors approved in May 2016 the establishment of the Compliance Committee, which replaced the ad hoc committee that had been created in April 2015 to monitor the internal investigation being conducted at that time.
The Compliance Committee is formed by independent members of our Board of Directors, and its main objectives are (i) to evaluate internal controls, risk exposure and compliance with applicable laws and regulations, (ii) to monitor investigations related to ethics complaints, (iii) to approve and periodically update the Policy on Ethics, Compliance and Transparency, which addresses anti-corruption measures and related party transactions and (iv) to develop training programs for board members, senior managers and certain employees.
The structure of the Compliance is as follows:
Chief Compliance Officer (CCO)
On August 15, 2016, Braskem announced Everson Basssinello as Chief Compliance Officer (CCO). Everson has 16 years of professional experience and 10 years leading compliance and risk management activities.
The CCO reports to the Compliance Committee and have as his main duties: (i) monitoring the exposure to risks and internal control systems; (ii) managing the internal audit; (iii) supervising the Ethics Line Channel, (iv) coordinating the Ethics Committee; (v) disseminating the Code of Conduct, (vi) conducting compliance training; and (vii) supervising the corporate policies related to compliance issues.
The Ethics Committee supports the Compliance Committee with matters involving the violation of the commitment to Acting Ethically with Integrity and Transparency.
Such Ethics Committee is formed by three effective members (Legal Officer, the Person in Charge of Personnel and Organization and the Person in Charge of Finances) and lead by the Chief Compliance Officer and its main objectives are to (i) evaluate the results of investigations of ethics complaints, (ii) provide support in the resolution of unanticipated ethical dilemmas, resolve doubts about controversial situations, and (iii) ensure the maintenance of criteria uniformity used in similar cases.
Braskem understands that its operations with ethics, integrity and transparency require, on a continuous basis, the formalization and updating of its Policies, including those on Governance and Compliance, as well as its effective implementation with an educational, preventive and awareness-raising approach, and establishing the following guidelines:
- The commitment to ethical, integral and transparent performance and with the implementation of the Compliance System begins on the Board of Directors of Braskem S.A. and should be extended to all members of Braskem.
- The creation and performance of the Compliance Committee at Braskem, in support of its Board of Directors, as well as the direct linkage of the CCO to this Committee, reinforce the conditions for the Compliance System to be put into effective practice throughout Braskem.
- The presence of independent members on the Board promotes diversity and enhances transparency and independent judgment, including matters related to compliance issues.
Click here to access Braskem's Policy on Compliance