FORMAX CODE OF BUSINESS INTEGRITY & CONDUCT
The Formax Group believes that the following areas are key foundations on which to build and enhance our products, services and brand. Formax are fully committed to establishing and maintaining the highest level of trust and confidence amongst all clients and business partners. The Formax group has grown significantly around the world with a strong belief in fairness, integrity and honesty. All being vital corporate assets that our reputation depends on. Key to those values is the adherence of our employees to the highest standards of ethical and professional duties whilst under employment.
These guidelines outline the standards which have been established by the company for the future of the company, applying to all staff at all times. These guidelines have been created in order to openly demonstrate the values and principles which Formax as a socially responsible company, and all our employees are instructed to adhere to, thus reducing the potential for any unsatisfactory practice which falls below the standards which Formax aspire to.
CORE BUSINESS APPROACH
Our success has been achieved through honest business competition, with a primary objective being the provision to our clients the highest possible standards of value and service in order to maximise their forex trading experience. We do not seek competitive advantages through illegal or unethical business practices. We strive to deal fairly with our clients, service providers, competitors, and individual colleagues. We oppose taking unfair advantage of anyone through manipulation, abuse of privileged information, misrepresentation of material facts, or any other unfair practice such as insider dealing.
Formax will always aim to ensure that our service levels will be of the highest possible standard, be it any commitments or responsibilities we have towards our clients, employees, service providers, any government authorities, regulators, competitors, the media, and also to society in general. To our clients, we are committed to providing our products and services in an efficient and innovative manner designed to meet their needs, and we offer a trading environment that aims to be fast, reliable, and convenient. To our employees, we offer progressive, challenging positions in a professional environment and equal opportunities for performance-based professional development. To our service providers, we seek to build mutually beneficial relationships, whilst adopting the Formax business perspectives outlined in this policy. To our regulators, we strive to strictly observe and comply with all relevant laws, rules, regulations and standards of best possible business practice. We will not sacrifice legal and regulatory compliance for the sake of profits, and will fully cooperate and assist with any investigating authority and/or regulatory body towards the shared goal of client protection in accordance with all FCA requirements. As a socially responsible company, we will offer support wherever possible to organisations and institutions dedicated to social or charitable causes and we are committed to remaining a responsible, law-abiding corporate member of society.
We aim to compete forthright in pursuit of our overall interests, yet we aim to do so fairly, ethically, and in a manner that fully complies with all applicable laws and regulations.
All employees are expected to act in the Company's best interest. Any employee in a position where his or her objectivity may be questioned because of an individual interest or family or personal relationship should consult his or her supervisor or an appropriate representative of the Legal or Compliance Departments. Similarly, any employee aware of a material transaction or relationship that could reasonably be expected to give rise to a personal conflict of interest should promptly discuss the matter with a supervisor or Legal or Compliance Officer.
Each Formax employee is personally responsible to abide by all laws, rules, and regulations, as well as all internal policies of Formax. These responsibilities include being familiar with the laws, rules, regulations, guidelines, manuals, and emerging best business practices relevant to their duties, and adhering to them to the best of their abilities.
Formax employees are expected and encouraged to adopt a client-focused approach, and to treat all our clients fairly and equally with the utmost courtesy, professionalism, and respect. We expect our employees to act at all times in good faith, with due care, competence, credibility and diligence, and without any factual misrepresentation.
Employees are not permitted to disclose or use, either during or subsequent to their employment with Formax, any client information they may receive, such as any trade practices or strategic plans, except for authorised Formax business related activities. All Formax employees must comply with Data Protection (1998) legislation and so any employee who possesses confidential information has an obligation to keep it as such, and to disclose any such information internally on a needs basis only. Employees are requested to be discreet with confidential information and avoid communicating confidential matters wherever possible.
Conflicts of interest may arise from time to time both between itself and its customers and between a customer and another client. As a regulated business, Formax will regularly assess its risks in order to identify such an occurrence. Formax and all employees will manage any such areas fairly, in accordance with the FCA Principles for Business (PRIN). All employees are expected to be able to recognise any such potential issues, either directly or indirectly affecting them and escalate to management accordingly.
Money laundering is the process by which individual(s) or businesses attempt to conceal the origin and ownership of the proceeds of illegal activities. Money laundering may also involve the use of legitimately derived funds to finance terrorism. Financial products and transactions, including those related to the foreign exchange market, may be involved in money laundering schemes.
Formax are determined in not allowing the Company to be used as a vehicle for any such activities. Money laundering is a criminal offense and anyone involved is subject to substantial criminal and civil sanctions, including imprisonment and fines.
Formax implements and monitors on a continuous basis, a number of internal policies, procedures and controls to detect, prevent and report money laundering or any other suspicious activity and will always fully cooperate with any investigating authority wherever possible.