Hanyang Securities to Hold ‘Ethics and Compliance Day’ Every Quarter

[Financial News] As hacking incidents continue across the financial sector, standards for internal controls are changing. The focus is shifting from whether companies have a rulebook in place to whether employees actually follow its rules in their day-to-day work. Financial regulators are pursuing measures to clarify the security responsibilities of financial company executives and their decision-making procedures. Against this backdrop, Hanyang Securities has designated an ‘Ethics and Compliance Day,’ on which all employees check for themselves each quarter whether they are complying with laws and regulations. According to the securities industry on the 3rd, Hanyang Securities is holding an ‘Ethics and Compliance Day’ and conducting internal-control self-assessments to raise employees’ compliance awareness.
Hanyang Securities has designated the Wednesday in the last week of January, April, July and October as ‘Ethics and Compliance Day.’ The aim is for all employees to regularly check for themselves whether they are following ethical principles and relevant laws and regulations.
On Ethics and Compliance Day, all employees complete an ‘Internal Control Checklist Self-Assessment.’ The checklist has 19 items in total, covering internal controls, personal (credit) information, anti-money laundering and financial consumer protection.
Through its ‘Compliance Letter,’ Hanyang Securities shares information employees need to know, including major policy changes and examples of financial incidents, and also provides related training.
A Hanyang Securities official said, “Through Ethics and Compliance Day, we will foster a culture in which employees check and put into practice the relevant principles and laws and regulations themselves.”
Hanyang Securities is overhauling its internal control framework through both policies and systems. Last September, it announced that it had built a ‘Responsibility Map Management System’ to oversee the internal control responsibilities of executives and individual departments. The system is intended to support the systematic operation of the responsibility map introduced in June following the enforcement of the Corporate Governance Act. Its functions include managing review items for each department; creating and managing responsibility framework maps and responsibility descriptions; managing the implementation of management measures and supporting documentation; and preparing and approving reports on implementation review results. The company also conducts monthly self-assessments and quarterly reviews across all departments, and draws up improvement plans and takes follow-up action when deficiencies are identified.
Hanyang Securities previously established a Compliance Management Innovation Department under its chief compliance officer and operates an Internal Control Committee, assigning the department responsibility for assessing and improving companywide internal control processes.

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