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​Corporate Governance FAQ

Q: Has EFG Hermes adopted a code of business conduct and ethics?
A: We require that all our leadership and all employees comply with an institutionalised code of conduct to ensure the observance of corporate governance best practices throughout the firm. The Code of Conduct sets forth certain minimum expectations that we have for our employees. This Code of Conduct applies to all the Firm’s representatives, including our directors, full- and part-time employees, temporary workers, independent contractors and consultants. These individuals are required to promptly report any suspected violation of the Code or any applicable law or regulation, whether the suspected violation involves themselves or other persons subject to the Code.
In addition, those affiliated with EFG Hermes are required to report any illegal conduct, or conduct that violates the underlying principles of the Code by any of our customers, suppliers, contract workers, business partner or agents. Reports of violations are made to the Head of Internal Audit for matters involving fraudulent acts, including acts by third parties against the company, personal dishonesty by an employee, or if an employee believes that that an official at a higher level of the company is involved.
Any other matters should be reported to the business unit's compliance officer.
 
Q: What is EFG Hermes’ governance structure?
A: EFG Hermes is governed by a Board of Directors that is composed of executive members and a majority of non-executive, independent members who work together with internal auditors, risk experts and external auditors to oversee corporate operations.
 
Q: How are EFG Hermes employees made aware of their responsibilities on corporate governance?
A: EFG Hermes is committed to educating employees about their role in corporate governance through our Code of Conduct, risk training and ongoing firm-wide information campaigns.
 
Q: How does EFG Hermes promote good corporate governance practices?
A: At EFG Hermes we have voluntarily chosen to implement international best practices in corporate governance. Starting at the top with our decision to separate the position of Chairperson of the Board and CEO in 2007-2008, with the appointment of Non-Executive Chairperson Mona Zulficar, this commitment extends from corporate initiatives from employee training and information campaigns to the efforts of the Board committees to improve transparency and maintain the highest standards of disclosure and documentation.
 
Q: Which accounting standards are EFG Hermes’ financial statements based on?
A: Our external auditors adhere to Egyptian Accounting Standards and comply with all applicable Egyptian laws and regulations relating to the preparation of our financial statements.
 
Q: Who is EFG Hermes’ external auditor?
A: KPMG Hazem Hassan.
Add:Pyramids Heights Office Park
Km 22 Cairo / Alexandria Desert Road
12556 Al Ahram
P.O.Box 48 Al Ahram
Giza - Cairo – Egypt
T: +20 (0)2 3536 2200/11
F: +20 (0)2 3536 2305/03
 
Q: Does EFG Hermes’ Board of Directors consist mainly of Executives?
A: EFG Hermes’s Board of Directors consists mainly of non-Executives in accordance with best practices in corporate governance.
 
Q: How does EFG Hermes avoid conflicts of interest between the firm’s brokerage and investment arms?
A: EFG Hermes has strict regulations regarding insider information which are maintained through our institutionalised ‘Chinese Wall’ procedures and strictly enforced employee trading freezes, which are closely monitored by compliance.
 

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Last updated on October 23, 2017