Regulatory Compliance in 2020
Global trade conflicts continued to escalate in 2020. To avert risks of trade conflicts on business sales, the following 2 tasks are listed as priorities:
- Antitrust Compliance
FENC established Antitrust Policy Paper based on the level of risk of violations for each unit, providing training and launched internal control, audit and reporting mechanism.
In July 2020, FENC conducted 4 training sessions of training on Antitrust and Competition Law for sales supervisors and high-level executives in Taiwan and international locations who were identified as being high risk. The training was offered online with all participants attending at the same time. The sessions were recorded and uploaded to FENC’s online learning platform, FENC Academy. In 2020, 322 participants completed the training and passed the exam. FENC was not involved in any antitrust cases in 2020.
- Response to Global Trade Barrier
The wave of protectionism has swept across the world in recent years, exacerbating trade barriers when nations continue to impose economic sanctions. FENC’s trade partners are located across the globe. To avoid sanctions, all FENC sites collaborate with Legal Department on special investigations and ban all direct and indirect trades with sanctioned entities to avoid penalty.