Wharton Asset Management Capital Limited | Global Financial Services

Investor Relations

How We Engage Our Clients and Improve
Our Client Experience

We have developed solid and everlasting relationships as part of our management plan. On all business transactions that occur with clients, partners, or acquisitions, we ensure an efficient communication and relationship. This statement is a core cultural belief and a fundamental element of the success of Wharton Asset Management Capital Limited. Members of our community tend to share core values that are highly compatible with those that are central to the business and established at the outset — expertise, integrity and discretion. We treat each other with mutual respect, openness and fairness and are driven by a desire to ‘do the right thing’ by all our stakeholders. This is our culture – it is central to our success. We are therefore proactive in building and reinforcing it.

Anti-Bribery And Corruption Framework

Wharton Asset Management Capital Limited operates within the commercial banking laws and protocols. We make sure all business transactions follow our Code of Conduct and values. As a company, we have enforced a robust framework to prevent all forms of bribery and corruption. Our Anti- Bribery and Corruption Policy forbids the actual or attempted use of any form of bribery or corruption, either directly or indirectly, on Wharton Asset Management Capital Limited behalf on any business-related activity.

Risk assessment

These include periodic risk assessments to identify and address bribery and corruption risk and controls tailored to manage the risks identified through this process.

Policies & Procedures

Bribery and corruption risks are addressed through a number of other Wharton Asset Management Capital Limited policies and procedures, including our Anti-Money Laundering and Counter-Terrorism Financing Policy, incorporating Client Identification. This document is a summary of Wharton Asset Management Capital Limited' Anti-Bribery and Corruption Policy and framework. It is not intended to create third party rights or duties or to form part of any contractual agreement between Wharton Asset Management Capital Limited and any other party.

Procedures

Wharton Asset Management Capital Limited staff must take reasonable steps to avoid, giving or accepting gifts and entertainment that are intended to, or may, improperly influence them or others. We also maintains a Whistle-blower Policy and framework which promotes the escalation and reporting of matters including bribery and corruption. Staff are encouraged to raise matters through line management or to compliance, and can also approach the Integrity Office or anonymously through an externally-hosted staff hotline.

Due Diligence

In dealing with third parties, the Policy requires sufficient due diligence to be undertaken to ensure that they are suitable to be associated with Wharton Asset Management Capital Limited, and that appropriate controls are implemented, designed to prevent and detect bribery and corruption. Third parties associated with Wharton Asset Management Capital Limited are in turn expected to have appropriate due diligence arrangements and controls in place in relation to the other parties they engage with, on behalf of Wharton Asset Management Capital Limited.

Monitoring & Review

Wharton Asset Management Capital Limited performs payment monitoring, including monitoring for bribery ‘red flags’ and Wharton Asset Management Capital Limited' independent compliance function conducts periodic risk-based monitoring of gifts and entertainment.

Training & Communication

Wharton Asset Management Capital Limited promotes staff awareness in compliance with the Anti-Bribery & Corruption framework through the appropriate dissemination of the Policy and procedures (including disciplinary procedures) and training on induction and periodically thereafter

Anti-Money Laundering & Counter-Terrorism Financing Policy

Policy Summary

Wharton Asset Management Capital Limited is committed to performing its business in agreement with industry laws and regulations, and in a way that maintains and enhances our unique reputation. This policy covers Wharton Asset Management Capital Limited ’s approach to the identification, mitigation, and management of all risks that the Wharton Asset Management Capital Limited brand in totality might become associated with, concerning money laundering and corruption.

Description of money laundering and terrorism financing

Wharton Asset Management Capital Limited defines money laundering (“ML”) as activity which is designed to conceal or disguise the true origin of criminally derived proceeds in order to make them appear to have been sourced from legitimate sources. Terrorist Financing (“TF”) is considered to be the act of providing financial support to terrorism or terrorist organizations to enable them to carry out acts of terrorism.

Objectives of Wharton Asset Management Capital Limited’s AML/CTF policy

Wharton Asset Management Capital Limited has established an AML/CTF policy which sets the core principles for the management of ML/TF risk. The policy is global in nature and outlines group-wide standards to meet regulatory and ethical obligations in the economies in which Wharton Asset Management Capital Limited does business. This contributes to the stability, integrity and strength of the global financial system and protects us from reputational damage.

The core principles

Wharton Asset Management Capital Limited has adopted the following core principles:

Wharton Asset Management Capital Limited opposes the crimes of money laundering and terrorist financing and maintains a framework to identify and mitigate the risk that its products and services could be used for such purposes.
Wharton Asset Management Capital Limited reports any activity that it detects which is suspicious and may involve potential money laundering or terrorism financing to the applicable regulator.
Wharton Asset Management Capital Limited will comply with the AML/CTF laws, rules and regulations of the countries that relate to AML/CTF where Wharton Asset Management Capital Limited has permanent places of business through which Wharton Asset Management Capital Limited provides services.
Wharton Asset Management Capital Limited will endeavor to provide its products and services only for legitimate purposes to customers whose identities has been able to reasonably ascertain.
Wharton Asset Management Capital Limited will take reasonable steps to ensure that sufficient funding and resources are available for the implementation and performance of activities required by Wharton Asset Management Capital Limited’s AML/CTF Program.
Wharton Asset Management Capital Limited employees are required to attend AML/CTF training to understand their obligations under the relevant laws, rules and regulations.
Wharton Asset Management Capital Limited will monitor its customers, their transactions, and its employees, consistent with the level of money laundering and terrorist financing risk they represent. Wharton Asset Management Capital Limited will manage new and revised changes to Wharton Asset Management Capital Limited’s products, business processes and systems to ensure that money laundering and terrorist financing risks are identified and managed.

Wharton Asset Management Capital Limited’s AML/CTF training program

Wharton Asset Management Capital Limited has a robust AML/CTF Training Program to educate employees in implementing and maintaining Wharton Asset Management Capital Limited’s AML/CTF Program. All employees undergo initial AML/CTF training when they join Wharton Asset Management Capital Limited. In addition, there are ongoing training requirements for all employees.

Wharton Asset Management Capital Limited’s record retention

Wharton Asset Management Capital Limited’s Record Management Policy requires retention of records for as long as required by applicable laws, rules and regulations.

Know your customer (“KYC”)

Wharton Asset Management Capital Limited endeavors to follow all KYC policies and procedures relevant to the regions in which it operates. Applicable KYC policies and procedures to establish and verify the identity and bonafides of customers will also be complied with.

These will include customer acceptance procedures that identify types of customers and transactions likely to pose a higher than average risk to Wharton Asset Management Capital Limited and require a higher level of due diligence;

Procedures to establish if customers are known or suspected money launderers, terrorists or otherwise engaged in criminal activity (e.g. reviewing customers against government/United Nations/regulators’ lists of proscribed persons)
Enhanced Due Diligence undertaken where a transaction or a counter party results in a heightened level of financial crime
A risk-based periodic review of existing customer records to maintain currency and completeness
Ongoing monitoring of transactions conducted by customers using a risk based approach
Procedures prohibiting accounts/relationships, including payment processing, with shell banks
A clear statement on what records must be kept on customer identification and individual transactions and their retention period; and
Regular compliance reviews and independent audits of AML/CTF program and procedure documents and execution against established standards.

Suspicious activity

Wharton Asset Management Capital Limited staff are trained and made aware of “red flags”, or anything that is unusual or out of the ordinary when dealing with customers and customer related information. Wharton Asset Management Capital Limited has the relevant procedures and processes in place to ensure that any genuinely suspicious matters are detected and escalated for review by senior management.

Independent review of the AML/CTF program

Wharton Asset Management Capital Limited’s AML/CTF Program is subject to independent review in accordance with the requirements of each local jurisdiction. The results of the review are presented to senior management for review and action. In addition, regular reporting is provided by Compliance to Wharton Asset Management Capital Limited’s Board