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Compliance Framework
In line with the Regulations Governing the Implementation of Internal Control and Audit Systems by Financial Holding Companies, E. SUN has put in place a well-rounded internal control system to better manage risks. An independent audit department is assigned the duty of tracking the system’s performance and reporting its findings to the board and the audit committee.
To fulfill its responsibility to customers, investors and regulators, E. SUN appoints a chief compliance officer charged with the very task of ensuring that all departments take statutory compliance seriously. In addition to mapping out a stringent set of documentary procedures and criteria for verifying compliance, the officer is responsible for oversight of all the departments undertaking their own verification regularly. To be sure, all the departments are supposed to appoint their respective compliance officers and conduct an internal checkup at least every six months. The objective is to have every E. SUN employee make statutory compliance part of their job without fail.
To better uphold customers’ interests, E. SUN requires all the marketing materials for its new products or services to undergo prior inspection by the chief compliance officer and the legal department. Printing is not to proceed until they give the go-ahead over statutory compliance and after whatever wording that may be deemed misleading has been modified or removed. Simply put, E. SUN relies on its rigorous internal audit and control mechanism to make sure that it complies with all the related laws and regulations. On top of its long-honored code of service and conduct, E. SUN expects this commitment to statutory compliance to eventually become part of its corporate culture where self-discipline always takes center stage.