infographic: overview of commodities act and its mechanics

Overview of Commodities Act and its Mechanics Prohibitions • Dealing in Commodities without License • Illegal Commodities • Illegally obtained Commodities • Violation of Human Rights • Violation Environmental Norms • Violation of Trade Sanctions • Not Paying Due Compensation • Aggressive Tax Avoidance • Name-Lending • Dealing without Consent with: Politically Exposed Persons (PEPs) Commodities from Conflict Zones Commodities from Failed States Commodities from Occupied Territories Duties • Conduct Supply Chain Due Diligence • Know & Document Business Partners • Appoint Responsible Persons • Implement Whistleblowing Procedures • Integrate Findings from Audits • Cooperate & Provide all Requested Information • Communicate on Policies and Findings • Proper Business Conduct • Duty to Report ROHMA Breaches by Third Parties Disclosure Obligations • Disclose all Beneficial Owners • Disclose all Payments to Governments • Disclose all Contracts made with Governments • Disclose all Licenses obtained from Governments ROHMA | Area of Influence | 2014 Industry-Specific Audit Are all prohibitions observed and all duties met? Review of Industry-Specific Audit by ROHMA YES NO NO YES Auditors to report immediately to ROHMA Info incomplete? Info questionable? Suspicions of potential breaches? No breaches identified Ongoing Monitoring by ROHMA Further Investigation by ROHMA Breaches identified Breach of Prohibitions Persistent Breaches of Duties Serious Breaches of Duties Financial Penalties Revoke License Wind-up or force Liquidation Names on Blacklist Individuals up to three years Prison Breach of Duties Financial Penalties Revoke License Names on Watchlist

Upload: berne-declaration-declaration-den-berne-erklaerung-von-bern

Post on 02-Apr-2016

214 views

Category:

Documents

1 download

Report

Download

Embed Size (px):

DESCRIPTION

ROHMA is a fictitious authority that is born from the visionary thinking of the Berne Declaration (BD). It would enable Switzerland to take effective measures to tackle the resource curse. But even if this authority exists for the time being only in the dreams of the BD team, the solutions presented here are made in response to real problems, and are to be taken seriously. Any resemblance to the Swiss Financial Market Supervisory Authority (FINMA) is no mistake. It is BD’s intention to demonstrate that the federal authorities would certainly be able to regulate the commodity sector, as they already do the financial sector.

TRANSCRIPT

Overview of Commodities Act and its Mechanics

Prohibitions

• DealinginCommoditieswithoutLicense• IllegalCommodities• IllegallyobtainedCommodities• ViolationofHumanRights• ViolationEnvironmentalNorms• ViolationofTradeSanctions• NotPayingDueCompensation• AggressiveTaxAvoidance• Name-Lending• DealingwithoutConsentwith:

PoliticallyExposedPersons(PEPs)CommoditiesfromConflictZonesCommoditiesfromFailedStatesCommoditiesfromOccupiedTerritories

Duties

• ConductSupplyChainDueDiligence• Know&DocumentBusinessPartners• AppointResponsiblePersons• ImplementWhistleblowingProcedures• IntegrateFindingsfromAudits• Cooperate&ProvideallRequestedInformation• CommunicateonPoliciesandFindings• ProperBusinessConduct• DutytoReportROHMABreachesbyThirdParties

Disclosure Obligations

• DiscloseallBeneficialOwners• DiscloseallPaymentstoGovernments• DiscloseallContractsmadewithGovernments• DiscloseallLicensesobtainedfromGovernments

ROHMA|AreaofInfluence|2014

Industry-Specific Audit

Are all prohibitions observed and all duties met?

Review of Industry-Specific Audit by ROHMA

YES

Auditors to reportimmediately to ROHMA

Info incomplete?Info questionable?

Suspicions of potential breaches?

Nobreachesidentified

Ongoing Monitoring by ROHMA