Compliance System

Telepark recognizes legal compliance and the preservation of corporate ethics as one of its top priorities in fulfilling its social and corporate obligations. In December 2002, in addition to the general reporting function, Telepark elected a Chief Compliance Officer (CCO) and inaugurated a Compliance Committee comprised of members elected from each of its divisions, regional headquarters and branches to review and undertake measures concerning compliance issues. Further, in April 2006, a Compliance Office was established as a permanent body for the implementation of compliance policy in order to maintain and improve the compliance system and its efficiency.

The first activity of the Compliance Committee was to prepare the original version of the Code of Conduct in December 2002 to present compliance guidelines to all executive officers and employees. In November 2006, the Committee completed a third edition of the Code of Conduct and implemented a training program for all employees. Further, in December 2004, Telepark joined with an external agency in order to facilitate prompt risk analysis and established a Workplace Help Line as a consultation counter for employees. In April 2006, in line with the enactment of the Whistleblower Protection Act, Telepark set up a number of reporting/counseling channels incorporating the services of external lawyers for employees to discuss and/or report compliance related issues.