Standards of ethics in buisness
GPW code of wthics
In addition to improvement of professional qualifications, GPW also takes steps to develop its value-based corporate culture which is unique in awarding and applying employee initiatives that improve the effectiveness of the organisation.
The GPW Employee Code of Ethics defines the core values applicable to all activities of the Company. The Code of Ethics outlines the principles and values to be followed by all GPW employees; it disseminates and promotes a culture of compliance with the law and decision-making based on ethical criteria in the following areas: mutual relations among employees, relations with customers and counterparties, relations with competitors, communication, promotion and advertising; and it lays down sanctions for non-compliance. The document has been signed by all GPW employees.
Pursuant to the GPW Group’s CSR strategy, the Company’s Code of Ethics was implemented in the companies Towarowa Giełda Energii and BondSpot.
Transparent Company of the Year
In 2019, GPW was named the Transparent Company of the Year in the mWIG40 category for a third consecutive time. The ranking identifies the most transparent companies participating in the three main indices: WIG20, mWIG40 and sWIG80. This year, the awards went to 42 listed companies.
The ranking was based on a survey which covered the following areas: financial reporting, investor relations, corporate governance. A questionnaire with 23 questions was distributed to companies participating in WIG20, mWIG40 and sWIG80. The maximum score was 34 points.
The ranking is organised by the financial paper Parkiet and Instytut Rachunkowości i Podatków under the auspices of the Warsaw Stock Exchange in partnership with Kancelaria Prof. Wierzbowski i Partnerzy.
Anti-corruption and whistleblowing standards
On 8 October 2018, the Warsaw Stock Exchange joined the “Anti-corruption and whistleblowing standards recommended for compliance systems in companies listed on markets organised by the Warsaw Stock Exchange” developed by experts representing different groups of capital market participants on the GPW Compliance Consultation Committee: Marcin Gomoła (T-Mobile Polska S.A), Monika Gorgoń (Warsaw Stock Exchange), dr Wojciech Nagel (Warsaw Stock Exchange), Marek Słomski (Advisor to the Management Board of the Chamber of Brokerage Houses IDM), Dr Anna Partyka–Opiela (DZP), Agnieszka Chojnacka (Nationale Nederlanden Towarzystwo Ubezpieczeń na Życie S.A.), Izabela Kozłowska (NBP), Marcin Góral (PZU S.A.), Mariusz Witalis (EY), Katarzyna Zielińska (Mercedes-Benz Polska), Tomasz Wypych (PKN ORLEN S.A.), Marcin Szczepański (Siemens Polska), Sławomir Chmielewski (Orange Polska S.A.), Marcin Prell (Santander Bank Polska S.A.), Wojciech Graczyk (Innogy Polska S.A.).
The publication provides recommendations for organisations’ compliance function as well as tools which mitigate the risk of unethical behaviour enabling corruption and conflicts of interest. The standards address expected regulatory amendments, such as the Act on Liability of Collective Entities, and define “due diligence” required in anti-corruption processes and procedures. The document does not require companies to report their compliance with the guidelines.
Whistleblowing policy
GPW follows high standards of ethics and expects its employees to do the same, among others by reporting any reasonable suspicion of infringement of internal regulations and applicable standards. GPW has in place a Whistleblowing Procedure which defines how GPW employees may anonymously report identified or suspected infringements. The Whistleblowing Procedure ensures that all reports are handled in confidence and with due diligence.
Reports may be provided on infringements of employee obligations, infringements of the Code of Ethics, as well as suspected abuse or illegal disclosure of inside information or professional secret and manipulation of financial instruments.
