On the latest issue of GeoTrade - AWOS - A World of Sanctions you will find an interview by Alessandro Amato on FOMAS Group’s export compliance guidelines.
Our colleagues, CCO Simone Scaffidi Abbate and our Legal, Compliance & Internal auditor manager Filippo Maria Riva, spoke about how the Group manages at a corporate level, coordinating and supervising local processes, procedures and resources to ensure maximum alignment with specific realities in terms of export compliance.
The article focuses also on how the Group intensified in recent years the threshold of attention on this topic, based on the increased complexity of the international markets and the type of products produced, by further strengthening the export control and compliance measures already in place.
Compliance is a key factor in ensuring quality and safety of our products and services. We adhere to the highest standards of ethical and legal conduct in all our activities, in the frame of a very comprehensive compliance program that covers all key aspects of our business.
Monitoring and auditing activities on our compliance performance are carried out daily and continuously, and pre-emptive improvement actions are rapidly implemented when necessary by a dedicated function in Export Compliance coordinated by our Customer Master Data Manager Marta Finotti.

In order to enable adherence to the highest compliance standards in the whole value chains we act in, we provide extensive training and guidance on policies and regulations not only to our employees, but also to all our other stakeholders and business partners.
 
We believe that Compliance can ultimately boost a company from a business perspective. It can improve overall operations by documenting the existence of a process and help an organization improve performance in compliance or any other area of operations. Achieving regulatory compliance can help avoid fines, business interruption and the indirect cost of reputational damage. A streamlined, efficient compliance process saves time and therefore money.