Compliance and Risk Assessment Sao Paulo June 13, Restricted Siemens AG All rights reserved.
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1 Compliance and Risk Assessment Sao Paulo June 13, 2016 Restricted Siemens AG All rights reserved. siemens.com
2 Siemens wrote 160 years of history filled with success & innovations Siemens Company founding Headquarter Wittelsbacherplatz, Munich 160 years of history Innovations and business Success stories 87 billion 190 countries Restricted Unrestricted Siemens AG AG All rights reserved. Page 2
3 The raids November 15, 2006 Restricted Unrestricted Siemens AG AG All rights reserved. Page 3
4 We have come a long way from taking immediate actions to establishing a compliance system Immediate Actions Implementation Support sustainable business! Exchange of Leadership Team Compliance Program World Bank Settlement Tone from the Top Compliance Organization Values & Integrity Independent investigation Compliance Tools Collective Action Centralization of bank accounts Settlement with DoJ/SEC & Monitor appointment Sustainable Development Restricted Siemens AG All rights reserved.
5 Appointment of Monitor Dr. Theo Waigel Compliance Monitor Period of four years 01/ /2012 Independent third party Conduct of internal review and preparation of internal report Assessment and monitoring of a) internal controls and compliance improvements and b) company's compliance with the terms of the Securities and Exchange Commission / Department of Justice judgment Dr. Theo Waigel Law firm, Munich Former German Federal Minister of Finance First non-us citizen as a Monitor Restricted Unrestricted Siemens AG AG All rights reserved. Page 5
6 Tone from the top as important internal and external message The culture of a company and its values make the difference. People rightly associate Siemens with reliability, fairness and integrity. Joe Kaeser, President and CEO of Siemens AG 2015 Restricted Unrestricted Siemens AG AG All rights reserved. Page 6
7 Why is corruption harmful? Restricted Unrestricted Siemens AG AG All rights reserved. Page 7
8 Corruption blocks sustainable development of nations and kills markets Corruption leads to bad decisions & misallocation of resources Small group of individuals benefit Their countries or their communities suffer Corruption has consequences for real people It distorts competition & slows economic development With less incentive to compete on the basis of quality and price, product quality suffers It cripples national economies, especially those of developing countries Restricted Unrestricted Siemens AG AG All rights reserved. Page 8
9 Overview on major international Anti-Corruption laws Internationally, anti-corruption laws and universal ethical principles apply. These are generally consistent in their approach: Foreign Corrupt Practices Act (FCPA) United States 1977 UK Bribery Act 2011 Criminal Law Convention on Corruption Council of Europe 2002 International Anti-Bribery and Competition Law Germany ; 299, 300 StGB Organization for Economic Cooperation and Development (OECD) Convention Covering active bribery of foreign officials in the performance of their official duties in internat. business U.S., Australia, most European countries Germany 1997 National Anti-Bribery Laws Over 100 countries have laws similar to the FCPA. All countries have laws that prohibit local government officials from accepting bribes. The trend is that local laws are quickly catching up with US law. United Nations Convention against Corruption UNCAC 2005 Ratified by >140 countries Restricted Siemens AG All rights reserved. Page 9
10 Our Compliance System Management responsibility is the focus We continuously develop the Compliance System further in order to adapt it to changing requirements according to our global business. Effective preventive measures such as risk management, policies & procedures, training & communication enable systematic misconduct to be avoided Management responsibility Explicit consequences and clear reactions support the prevention of misconduct, for example to punish wrongdoing and to eliminate deficiencies Effective Compliance work requires complete clarification: whistle-blowing channels Tell us and ombudsman, as well as professional and fair investigations Restricted Siemens AG All rights reserved.
11 Main differences between 2007 and 2008: From label-based to risk-based approach Label-based approach 2007 Risk-based approach 2008 Business Partners (BP) Business Consultants & Government related Intermediaries Front-end Risk Assessment Risk Classifier Questions Label-based Compliance Due Diligence (CDD) Risk Classification Due Diligence Form Lower CDD Medium CDD Higher CDD Lack of standardized approach, Subjective assessment results Standardized procedures resulting from risk assessment Restricted Siemens AG All rights reserved. Page 11
12 Siemens Compliance System Reynaldo Goto Compliance Officer Siemens Brazil Av. Mutinga, São Paulo-SP Phone: siemens.com/compliance Restricted Siemens AG All rights reserved.
13 Thank you for your attention! Restricted Siemens AG All rights reserved. siemens.com
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