Anti-Bribery and Anti-Corruption Guidelines

Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad (collectively referred to as Sun Life Malaysia) are committed in conducting business and servicing its clients and customers with high ethical standards and integrity. Accordingly, Sun Life Malaysia adopts a zero-tolerance policy against all forms of bribery and corruption.

Sun Life Malaysia is committed to ensure that its management and employees act with the highest level of professionalism, act fairly and with integrity in all its dealing and expects that all its Third Parties uphold the highest standard of integrity in performing work or services for or on behalf of Sun Life Malaysia.

The purpose of this Anti-Bribery and Anti-Corruption Guidelines (“ABAC Guidelines”) is to set out the responsibilities of the management and employees of Sun Life Malaysia in combating bribery and corruption issues.

This ABAC Guidelines applies to all individuals working for and on behalf of Sun Life Malaysia at all levels, whether permanent, fixed-term or temporary, the management of Sun Life Malaysia (“Employees”) and Third Parties acting on behalf of Sun Life Malaysia.

Although this ABAC Guidelines is specifically written for Sun Life Malaysia’s Employees and the management of Sun Life Malaysia, Sun Life Malaysia expects that all Third Parties engaging with Sun Life Malaysia to read, understand and comply with the requirements set out in this ABAC Guidelines. No waivers or exceptions will be granted for practices that deviate from Sun Life Malaysia’s ABAC Guidelines.

All Employees of Sun Life Malaysia are expected to exercise proper judgement and behave in a manner consistent with the general principles, as follows:

1. always exercise proper care and judgement;
2. avoid conflict of interest;
3. conscientiously maintain the highest degree of integrity and ethics; and
4. complies fully with all the applicable laws, regulatory requirements on anti-bribery and anti-corruption and with all regulations, procedures, and policies issued by Sun Life Malaysia.

1. General

   As a general principle, all gifts and hospitality received and/ or given by Sun Life Malaysia during the course of business dealings are subject to the stringent requirements provided in this ABAC Guidelines and all internal operating guidelines issued by Sun Life Malaysia. Under no circumstances shall any gifts or hospitality be received or given with the intention to gain a business advantage or induce unjust influence. All gifts and hospitality irrespective of their value given and /or received by Sun Life Malaysia’s Employees, including their family members must be registered on the respective Gift and Hospitality Register kept by the company. All records must be maintained regardless if the request is approved or denied.

2. Prohibited Gifts and Hospitality

   The Employees are prohibited from soliciting, giving and should immediately decline, reject and return (if received) the following:

   1. any gift of cash or cash equivalent which includes but is not limited to gift cards, vouchers, discounts, coupons, loans, shares, securities, commission, digital assets;
   2. gift or hospitality that is excessive, lavish, inappropriate, illegal or given in response to, in anticipation of, or to influence a favorable business decision, particularly from parties engaged in a tender or competitive bidding exercise (for e.g. contractors, vendors, suppliers and etc.).
3. Gift and Hospitality Register

   All business functions in Sun Life Malaysia are required to each maintain a departmental gift and hospitality register (hereinafter referred to as “Gift and Hospitality Register”).

Sun Life Malaysia does not make, and will not accept any facilitation payment or kickbacks of any kind, whether directly or indirectly. Facilitation payment refers to any sums of unofficial payment made to secure, expedite or facilitate an ordinary governmental action, process or procedure to a government official (either locally or internationally). Kickback refers to an illicit payment or commission made in return for facilitating a transaction, procurement of a project or furthering of business dealing.

Sun Life Malaysia does not make any donations, contributions or give financial supports to any public body, political parties, individuals engaged in politics or politically motivated projects.

Sun Life Malaysia may make donations or provide financial support to organizations (including charity organisations) that are properly registered with the local government authority. The chosen organisation should not be connected to any government agencies, public body, public officials or persons that may use his or her influence to give special preference to Sun Life Malaysia.

Before any charitable contributions or sponsorships can be made, compliance due diligence should be performed on the chosen organisation and reported to Sun Life Malaysia’s Business Unit Compliance Officer and the Chief Executive Officer.

All charitable contributions or sponsorships must be properly recorded with proof of receipt from the organisation. Under no circumstances may the charitable contributions or sponsorships be made in cash. Charitable contributions or sponsorships must not create the appearance of a bribe, kickback or other corrupt practice, and should never be used to directly or indirectly to procure future business dealings or otherwise be made with the intent to obtain or retain business, secure an improper advantage, or induce anyone to act improperly.

Sun Life Malaysia expects that all Third Parties acting for or on its behalf to share the same values and ethical standards as their actions can implicate Sun Life Malaysia legally and tarnish its reputation. Therefore, when engaging Third Parties, Sun Life Malaysia is obligated to conduct appropriate counterparty due diligence to understand the business and background of the prospective business counterparties before entering into any arrangements with them to ensure that such counterparties subscribe to an acceptable standard of integrity in the conduct of their business.

If at any point during the due diligence exercise or in the dealings with a Third Party, there are conflicts of interest or “red flags” are raised, these warrant further investigation and must be sufficiently addressed before the engagement of the Third Party can progress.

Examples of common “red flags” involving Third Parties include:

1. the transaction involves a country known for a high incidence of corrupt payments;
2. family, business or other “special” ties with government officials;
3. a reference check reveals a flawed background or a reputation for getting “things done” regardless of the circumstances or suggests that for a certain amount of money, he can fix the problem;
4. objection to anti-bribery representations and warranties in commercial agreements or negative response when told of such requirements;
5. convoluted payment arrangements such as payment in cash, payment to a third party or into accounts in other countries or requests for upfront payment for expenses or other fees;
6. expertise of the business counterparties does not match the nature of the current business transaction to be entered into;
7. the Third Party requires that their identity not be disclosed as part of the business transaction; and
8. inadequate credentials for the nature of the engagement or lack of an office or an established place of business.

Sun Life Malaysia requires its Employees to use good judgment in assessing the integrity and ethical business practices of Third Parties.

1. Receives or Gives Gratification
   1. Under Section 16 of the MACC Act, any person who by himself or by or in conjunction with any other person corruptly solicits or receives or agrees to receive for himself or any other person or corruptly gives, promises or offers to any person whether for the benefit of that person or of another person, any gratification as an inducement to or a reward for, or otherwise on account of (i) any person doing or forbearing to do anything in respect of any matter or transaction, actual or proposed or likely to take place or (ii) any officer of a public body doing or forbearing to do anything in respect of any matter or transaction, actual or proposed or likely to take place, in which the public body is concerned, commits an offence.
   2. Any person who commits an offence under Section 16 of the MACC Act, shall on conviction be liable to imprisonment not exceeding twenty (20) years and a fine not less than five (5) times the sum or value of the gratification is capable of being valued or of a pecuniary nature, or ten thousand ringgit (RM10,000.00), whichever is higher.
2. Offence by a Commercial Organisation

   Section 17A of the MACC Act provides that a commercial organisation commits an offence if a person associated with the commercial organisation corruptly gives, agrees to give, promises or offers to any person any gratification whether for the benefit of that person or another person with intent to obtain or retain a business for the commercial organisation or to obtain or retain an advantage in the conduct of the business for the commercial organisation.

   On conviction, a commercial organisation can be liable to a fine of not less than ten (10) times the sum or value of the gratification which is the subject matter of the offence, or One (1) million ringgit (RM1,000,000.00), whichever is higher or imprisonment for a term not exceeding twenty (20) years or to both.

   Where an offence is committed by a commercial organisation, its director, controller, partner, officer or any person who is concerned with the management of the affairs of the company is deemed to have committed the offence unless he/she can prove that the offence was committed without his/her consent and he/she has exercised proper due diligence.

Sun Life Malaysia strongly encourage any Employees or Third Party acting for and on behalf of or conducting business dealings with Sun Life Malaysia to notify or report to the management of Sun Life Malaysia or directly to the authorities on any improper conduct. Section 7 of the Whistleblower Protection Act 2010 provides protection to whistleblowers that makes a report to an enforcement agency and extends such protection to any person related to or associated with the whistleblower provided that such disclosure is not specifically prohibited by any written law.

For further information, please refer to Sun Life Malaysia’s Whistleblowing Guidelines at SLM here.

Any Employees who breaches this ABAC Guidelines may face disciplinary action, which could result in dismissal for gross misconduct. Sun Life Malaysia reserves the right to terminate contractual relationship with any Third Party acting for and on behalf of or conducting business dealings with Sun Life Malaysia if there is a breach of this ABAC Guidelines.

Sun Life Malaysia ensures that the management continuously monitors the effectiveness and reviews the implementation of this ABAC Guidelines at appropriate intervals, considering its suitability, adequacy and effectiveness. Any improvements identified are implemented on forthwith basis. Internal control systems and procedures are also subject to regular review to provide assurance that they are effective in eliminating any risks of bribery and corruption.

In addition to reviews, Sun Life Malaysia is committed in ensuring strict implementation and enforcement of the anti-bribery and anti-corruption framework within Sun Life Malaysia. These monitoring and enforcement steps may include the form of internal or external audits carried out by external independent agency.

Sun Life Malaysia further seeks to conduct continual evaluations and identify competent persons and establish proper compliance functions to perform the monitoring and implementation of anti-bribery and anti-corruption measures within Sun Life Malaysia.

Sun Life Malaysia ensures that all matters regarding the prevention of bribery and corruption which includes but is not limited to risk assessment, proposed improvements and amendments to process and procedures, annual reviews of policies, complaints, disciplinary actions taken on prohibited conducts is properly documented and recorded.

Training on this ABAC Guidelines is provided to all Employees and Sun Life Malaysia’s approach to bribery and corruption will, where appropriate, be communicated to any Third Party acting for and on behalf of or conducting business dealings with Sun Life Malaysia.

Sun Life Malaysia regularly communicates the requirements and obligations under this ABAC Guidelines and related policies through various mediums and platforms which includes but is not limited to emails, code of conduct, Sun Life Malaysia’s website and internal platforms.

Sun Life Malaysia reserves the right to amend, modify or update this ABAC Guidelines periodically and at any time by updating and publishing the effective date of the release of the new versions hereof through an internal circulation to the Employees or by making it available in Sun Life Malaysia’s website.

If you have any questions or require further information about any aspect of this ABAC Guidelines, please contact us at BUCO@sunlifemalaysia.com.