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Due to the nature of businesses carried out by Sampo Group companies, playing by the rules, i.e. compliance has always been an intrinsic requirement of all operations. During the last few years, as a consequence of increasing regulation, compliance has become to play even more important role in the various businesses carried out by the financial sector. Consequently, it is understood that all Group companies must have resources, systems and processes in place to ensure that they are complying with all applicable laws, regulations, code(s) of conduct and standards of good practice as well as broader company values in order to reduce their risk of legal or regulatory sanctions, financial loss, or loss to reputation.
To respond to the changes and developments in business environment and to further above goals, and to ensure that all necessary governance requirements are met without an unnecessary duplication of effort and activity in different companies, Sampo plc's Board of Directors has issued Sampo Group Compliance Principles on 9 November 2012.
The approved principles contain the perceived common denominators of successful compliance activity, a set of general principles that describe essential features of effective compliance activities within the context of the business environment Sampo Group companies are operating in. The approved set of principles allow each Group company to deploy the most prudent set of tools, processes and activities to ensure their compliance with required standards without unnecessarily jeopardizing their operational effectiveness of its business activity.