Good Corporate Governance
Whistle Blowing Policy
1. General Requirement
1.1 Purpose
| 1.1.1 | To encourage all stakeholders to report information or suspicion about fraud, misconduct, and violation of code of conduct or relevant regulations to the Company via established channels to build a corporate culture that is transparent, free of fraud, misconduct, and violation of code of conduct or relevant regulations. | |
| 1.1.2 | To support the Company’s operation to be accurate, suitable, efficient, transparent, and verifiable as well as in accordance with the law, good corporate governance principles, and to prevent any potential damage. | |
| 1.1.3 | To protect whistleblowers who report in good faith. The identity and information provided by the whistleblower will be kept confidential and will not be disclosed. |
1.2 Scope
Personnel of Bangkok Life Assurance Public Company Limited and its subsidiaries (the Company) must study, understand, and strictly abide by the policy.
1.3 Effective Date
This policy shall be effective from the date of approval by the Board of Directors.
1.4 Review Frequency and Revision
- This policy must be reviewed annually, or when a significant change arises.
- Any significant revisions, review, or renewal of this policy must be considered by the Corporate Governance and Sustainability Committee before being submitted to the Board of Directors for approval.
1.5 Responsible Function
The Compliance Office is the responsible function of this policy.
2. Main Requirement
2.1 Definition
| 2.1.1 | “The Company” means Bangkok Life Assurance Public Company Limited. | |
| 2.1.2 | “Subsidiary” means companies in which the Company holds shares directly or indirectly. | |
| 2.1.3 | “Whistleblower” means directors, executives, employees, and all groups of stakeholders, both internal and external. | |
| 2.1.4 | “Whistleblowing” means reporting to the Company information or suspicion about fraud, misconduct, and violation of code of conduct or related regulations. |
2.2 General Principle
The Company is determined to operate business with transparency, fairness, and responsibility towards society, and is aware of the importance of preventing fraud, misconduct, and violation of code of conduct or relevant regulations, which may affect its decision making and operations. Therefore, the Board of Directors has established this Whistleblowing Policy.
2.3 Role, Duty, and Responsibility
| 2.3.1 | The Board of Directors (“BoD”) establishes the policy framework and enforces this policy. | |
| 2.3.2 | The Corporate Governance and Sustainability Committee reviews this policy before the responsible function presents it to the Board of Directors. | |
| 2.3.3 | The Management Committee (“MC”) applies this policy to the Company’s business operations. |
2.4 Requirement
2.4.1 Whistleblowing channels
Internal and external stakeholders can submit a whistleblowing report to the following channels:
2.4.1.1 Chairman of the Audit Committee
audit_committee@bangkoklife.com
2.4.1.2 Internal Audit Department
Tel: 0-2777-8230 or auditor@bangkoklife.com
2.4.1.3 Compliance Office
Tel: 0-2777-8861 or compliance@bangkoklife.com
2.4.1.4 Mail:
- Internal Audit Department
- Bangkok Life Assurance PCL
- 1415 Krungthep-Nonthaburi, Wongsawang, Bang Sue, Bangkok 10800
Apart from the channels listed above, employees can make inquiries or submit a whistleblowing report to the following channels if they have witnessed or suspected violation or noncompliance of the Company’s code of conduct or any relevant rules:
- 1. Human Resources Management Department
- 2. Their trusted supervisors of all levels
2.4.2 Protection of whistleblowers and individuals cooperating in the fact-finding process
Whistleblowers and individuals cooperating in the fact-finding process who have made reports in good faith will receive protection as follows.
| 2.4.2.1 | Whistleblowers and individuals cooperating in the fact-finding process can choose not to disclose their identity if they believe that such disclosure could bring danger or damage. However, disclosure of identity allows the Company to report the progress, explain the facts, or relieve the damages more conveniently and quickly. | |
| 2.4.2.2 | The Company may need to disclose information of whistleblowers and individuals cooperating in the fact-finding process, if required by law, prioritizing the safety and damage towards whistleblowers and individuals cooperating in the fact-finding process. | |
| 2.4.2.3 | The Company will not take any unfair action against whistleblower or individuals cooperating in the fact-finding process, whether by changing their job position, changing their job responsibilities, changing their work location, suspending them, threatening them, interfering their performance of duty, terminating their employment, or taking any other action that would be considered unfair treatment towards whistleblowers or any individuals cooperating in the fact-finding process. | |
| 2.4.2.4 | Whistleblowers and individuals cooperating in the fact-finding process may request appropriate protection measures from the Company if they believe that their safety could be at risk or if they might face harm. Additionally, if the Company determines that there is potential damage or safety risk, it may establish protection measures without a request from whistleblowers and individuals cooperating in the fact-finding process. |
2.4.3 False report
Whistleblowers and individuals cooperating in the fact-finding process must be fully aware and understand that reports should be made in good faith, with no intention to harm the Company or any individuals. In the event of a false report, the Company will take appropriate action in accordance with its procedures, rules, or applicable laws, as the case may be, against the whistleblower submitting the report.
2.5 Penalty
Violation of this policy is considered violation of the Company’s Code of Conduct for All Personnel and may constitute an offense against the Company's rules, as well as other applicable laws, regulations, rules, or requirements.
