遠東新世紀股份有限公司〈原遠東紡織〉,乃台灣規模最宏大、最多元化的紡織及相關產品製造者。本公司共分化纖、紡織、石化、土地開發與轉投資五大事業。

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Sustainable Governance

Sustainable Governance

Corporate sustainability is built upon robust governance. FENC pursues sustainable governance to create sustainable prosperity

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Sustainable Risk Control

Conduct regular self-evaluation on compliance to reduce risk of violation.

Regulatory Compliance System

In 2014, the President of Administrative Headquarters served as the chief supervisor and established Company-wide Regulatory Compliance System:

Objective

  • Enhance employees’ legal awareness to avoid illegality.
  • Protect corporate interests and image.
  • Reduce operational risks for the Board and management team.
  • Improve corporate efficiency.

 

Organization


 

System Detail

Category

Focus

Tasks

Establish communication

  • Establish clear and adequate system for the conveyance, consultation, coordination and reporting of regulatory information.
  • Designate regulatory compliance personnel.
  • Report violations and penalty immediately.

Regulatory update

  • Establish internal regulatory compliance web page.
  • Track the latest regulatory amendments and updates on a regular basis and convey the changes to all units immediately.
  • Provide advanced risk alert on violations for all units.
  • Convey the latest regulatory changes to applicable units and personnel.
  • Update Company regulations in accordance with regulatory changes.

Regulatory training

  • Publish information on regulatory enactment, case studies and regulatory education.
  • Conduct training on key regulatory amendments.
  • Provide in-person and online training on regulatory compliance for new employees (intellectual property/copyright/Criminal Code and corporate corruption/labor conditions/trade secret).
  • Designate appropriate staff to undergo training.

Compliance evaluation

  • Determine self-evaluation checklists in accordance with regulatory control points.
  • Conduct on-site inspection for regulatory compliance.
  • Conduct regulatory compliance meetings on a regular basis.
  • Report implementation of regulatory compliance to the Board on a regular basis.
  • Conduct regular self-evaluation on the implementation of regulatory compliance and report the outcome.
  • Conduct on-site inspection and submit evidence.

 

Target

Confirm key regulations concerning corporate operation. Regulations governing penalty for Board members and managers; damages to corporate image; major civil offense; administrative liability are given priority status for implementation. Areas prone to deficiency are listed as the focus for annual audit. Given the above criteria, 80 regulations and 590 control points are identified.

Target

Compliance Detail (Number of Control Point)

Shareholder

Financial report (19), internal control (16), issuance of credit and endorsement / guarantee (17), acquisition and disposal of assets (42), convening of meeting (74)

Customer and Competitor

Fair trade (5), import / export (8)

Corporate Asset

Business accounting (9), tax management (60), patent and trademark (18), Copyright Act (13), trade secret (5), personal data protection (11)

Employee

Labor condition (59), welfare and insurance (28), labor relations (33), labor retirement (19), health and safety (69)

Society

Environmental protection (59), corporate corruption (18), political donation (8) 

 

Implementation

  1. Each department shall complete quarterly self-evaluation on regulatory compliance and report to Legal Department.
  2. Legal Department shall collaborate with Human Resources Department, Labor Safety and Health Department and Audit Department to complete on-site inspection, report to the Board, provide guidance for all departments on improvements and follow up.
  3. Establish the SOPs regarding violations and designate channels for reporting violations, such as emails for the regulatory compliance system, Audit Committee and Audit Department.
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