Metals Technology Initiative Publishes Compliance and Due Diligence…
The Metals Technology Initiative (MTI) has announced the launch of its new website to make its advice on gifts and hospitality and on third party due diligence freely available to all.
MTI is an anti-corruption and fair competition collective action initiative that brings together the four leading companies in the metals technology industry: Danieli, SMS group, Primetals Technologies and Tenova
The guidance documents address specific compliance risks faced by companies operating globally in the metals technology industry.
Co-developed by Initiative member companies in meetings facilitated by the Basel Institute Collective Action Team, the guidance documents are designed to help strengthen and define best practices on these topics. essential for anti-corruption compliance. They are designed to be practical and user-friendly in order to help users think about how the guidance might apply in practice.
MTI member companies are committed to following the guidelines of their own companies. MIT has said it wants other companies and metal industry companies facing similar problems to adopt the guidelines of their own anti-corruption compliance programs.
The Metals Technology Initiative and its Key Principles:
Senior compliance officers from the four member companies meet three times a year to exchange best practices and knowledge in anti-corruption compliance and fair competition.
The guidance documents align with and expand on the five key principles agreed upon in member companies’ memoranda of understanding:
– Commitment to act with integrity in business practices
– Development and implementation of an anti-corruption compliance program
– Fair competition
– Management of the main risks
– Sharing of good practices
For more information visit: https://baselgovernance.org/news/metals-technology-initiative-publishes-compliance-and-due-diligence-guidance-new-website