Guiding Principles
Code of Business Conduct & Ethics
Based on respect, integrity and innovation, these guiding principles serve as blueprint for the way that we do business.
Respect
We treat others with honour and esteem.
We run our company in such a way that we respect all of our colleagues, clients and regulators.
Integrity
We act in a manner that is based on, or characterized by, good judgment and sound thinking.
As an organization, we aspire to achieve the highest standards of professional conduct and ethics; to raise the bar on individual accountability for our actions; to prevent and detect wrongdoing; and to govern ourselves in accordance with the relevant rules, regulations, and laws. Applied Derivatives is regulated by its governing exchange and is regularly audited, including thorough checks on our adherence to the anti money laundering financial intelligence control act. When engaging in business with the company, clients will always receive the highest level of service based on a lively and ethical grounding.
Innovation
We foster the development of new ideas, products and improvements.
We take pride in our willingness and ability to break from the crowd to pursue new or alternate paths. Our innovation can be seen by the flexibility of our operating model.
Code of Business Conduct & Ethics
Applied Derivatives together with each of its subsidiaries and affiliates (collectively, "Applied Derivatives" or the "Firm" as used in this Code of Business Conduct and Ethics), are committed to the highest standards of business conduct and ethics. This Code of Business Conduct and Ethics (the "Code of Ethics"), as written and amended from time to time, establishes standards that Applied Derivatives deems necessary to deter wrongdoing and to promote compliance with applicable law, rules and regulations and honest and ethical conduct. This Code of Ethics is also intended to comply with the laws, principles and rules of the jurisdictions, bodies and authorities that regulate Applied Derivatives business. This Code pertains to the conduct of each individual who is an employee, officer or director of Applied Derivatives. This Code of Ethics is a material policy of the Firm.
This Code is divided into seven sections:
- 1. Accountability for Adherence to the Code of Ethics
- 2. Compliance with Applicable Laws, Rules and Regulations
- 3. Conflicts of Interest
- 4. Corporate Opportunities
- 5. Fair Dealing
- 6. Financial Reporting and Disclosure
- 7. Confidentiality
The principles espoused by this Code of Ethics are not exhaustive; accordingly, every employee is expected to exercise his/her best judgment and common sense in all of their activities.
Accountability for Adherence to the Code of Ethics
We treat others with honour and esteem.
We run our company in such a way that we respect all of our colleagues, clients and regulators.
The Applied Derivatives Board of Directors (the "Board") shall designate an Ethics Compliance Officer who shall be responsible for investigating all reports of Code of Ethics violations. The Ethics Compliance Officer shall report to the Board or a Board committee when an investigation concerns the activity of a Director. The Ethics Compliance Officer is responsible for updating this Code of Ethics and may periodically issue instructions and procedures relating to the Code of Ethics. A waiver of any provision set forth in this Code of Ethics for a Director may only be granted by the Board or a Board committee. Applied Derivatives is legally obligated to immediately disclose all waivers and modifications to this Code of Ethics relating to employees.
Employees are personally accountable for ensuring that their conduct adheres to this Code of Ethics. Additionally, employees are expected to promote ethical conduct and compliance with the laws, rules and regulations that govern the activities of the Firm. Employees have an affirmative obligation to promptly report any known or suspected violation of this Code of Ethics to the Firm's designated Ethics Compliance Officer.
Employees should consult with their manager, supervisor and/or a member of the Firm's Legal Department when in doubt about the appropriate course of action in a particular situation. The Firm will not allow retaliation against any person who, in good faith, reports a violation or a suspected violation of a law, rule, regulation or this Code of Ethics.
Employees have an obligation to fully cooperate with the Firm's independent and/or internal auditors, investigators, legal and compliance personnel, attorneys and regulatory authorities.
Any employee or Director who violates a provision of this Code of Ethics will be subject to disciplinary action including, but not limited to, unpaid suspension and/or termination of employment and forfeiture of deferred compensation.
Compliance with Applicable Laws, Rules and Regulations
Employees are expected to proactively promote compliance
with the laws, rules and regulations, including the rules and regulations
promulgated by pertinent regulatory organizations, which govern their
activities within the Firm. When necessary, employees are expected to consult
with the General Counsel and/or another member of the Firm's Legal Department for advice.
Conflicts of Interest
Employees must avoid conflicts of interest and material transactions or
relationships involving potential conflicts of interest unless the
transaction or relationship has been approved in advance. Employees have
an affirmative obligation to promptly disclose any material transaction or
relationship that reasonably could be expected to give rise to such a conflict
to their supervising Senior Managing Director in the case of an employee or
to the Firm's designated Ethics Compliance Officer in the case of a Director.
For purposes of this Code of Ethics, "conflict of interest" is broadly defined
as occurring when an individual's private interest interferes in any way – or
even appears to interfere – with the interests of the Firm.
Corporate Opportunities
Employees owe a duty to the Firm to advance its
legitimate interests when the opportunity to do so arises.
Employees are prohibited from competing with the Firm.
Employees are also prohibited from using corporate property,
information or their position for personal gain or for the
benefit of their friends and family. As a general rule, employees
may not avail opportunities for themselves that are discovered
through the use of corporate property, information or their position,
unless such opportunities are presented first to the Firm.
The Firm reserves the right to determine the suitability of the
opportunity for the Firm's own account.
Employees have an affirmative obligation to promptly disclose any such opportunities to their supervising Senior Managing Director in the case of an employee or to the Firm's designated Ethics Compliance Officer in the case of a Director. Accordingly, employees may pursue opportunities discovered through the use of corporate property, information or their position only after the Firm has been made aware of and has declined to avail itself of such opportunities.
Fair Dealing
Employees must endeavour to deal fairly with the Firm's
employees, clients, vendors and competitors. They must also
avoid taking unfair advantage of anyone through manipulation,
concealment, abuse of privileged information, misrepresentation
of material facts or any other unfair dealing practice.
Employees are expected to share knowledge with their colleagues
and are expected to maintain the skills necessary to perform their jobs.
Financial Reporting and Disclosure
Employees shall endeavour to ensure that the information disclosed in
internal reports and documents is complete, fair, accurate, timely and
understandable. Directors shall endeavour to ensure that the information
disclosed in reports and documents that Applied Derivatives files with,
or submits to, its regulating bodies and other public communications
made by the Firm are complete, fair, accurate, timely and understandable.
Furthermore, Employees are prohibited from directly or indirectly taking
any action to influence, coerce, manipulate or mislead an auditor or another
employee for the purpose of falsifying an internal report, financial statement
or other document.
Confidentiality
Employees must maintain the confidentiality of information entrusted
to them by Applied Derivatives and its clients, whether the information
concerns the Firm or its clients, except when disclosure is authorized,
already in the public domain, legally mandated or reasonably required
to advance the Firm's or its client's legitimate business interests.
Confidential information includes all non-public information that might
be of use to competitors or harmful to the Firm or its clients if disclosed.
Insider trading is unethical, is prohibited by law and can expose you and
the Firm to risk.