Anti-Bribery and Corruption Statement | The Royal Mint

Anti-Bribery and Corruption Statement

Introduction

The Royal Mint's Values

This statement is made in relation to The Royal Mint Limited and its group companies. The Royal Mint consists of The Royal Mint Limited (Company Number: 06964873), RM Assets Limited (Company Number: 09058416), RM Experience Limited (Company Number: 10953110), and RM Wynt Limited (Company Number: 10849239). The Royal Mint is a values based organisation. Our values guide our behaviour and we expect employees and suppliers to conduct themselves in compliance with our values, principles and business conduct policies.

Organisational Structure and Background

The Chancellor of the Exchequer is the Master of the Mint. The Royal Mint Trading Fund was established on 1 April 1975, in accordance with the Royal Mint Trading Fund Order 1975 (S.I. 1975 No. 501) and from 1 April 2002, the Royal Mint Trading Fund (Extension and Variation) Order 2002, both made under the Government Trading Funds Act 1973. On 31 December 2009, the trading assets and liabilities of the Royal Mint Trading Fund were vested into a subsidiary company called The Royal Mint Limited. HM Treasury remains 100% owner of the shares of the company through the Trading Fund. All assets of a historical nature were vested into a separate company, The Royal Mint Museum, limited by guarantee. The objective of The Royal Mint Museum, of which HM Treasury is the sole member, is to preserve, protect and enhance the heritage assets for future generations. The Royal Mint makes and distributes coins in the UK and is also the world’s leading export mint. We operate around the world and we pride ourselves on our reputation for acting fairly and ethically wherever we do business. Our reputation is built on our values as a company, the values of our employees and our collective commitment to acting with honesty, integrity and trust throughout our organisation.

 

Anti-Bribery and Corruption Statement

The Royal Mint condemns corruption in all its forms and we will not tolerate it in our business, or in those with whom we do business. From the confines of our working environments, it is sometimes difficult to grasp the scale of the damage that bribery can cause to societies. Bribery is not a victimless crime – in fact, it’s far from it:

"Corruption … undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organised crime, terrorism and other threats to human security to flourish. This evil phenomenon is found in all countries - big and small, rich and poor…corruption hurts the poor disproportionately by diverting funds intended for development, undermining a government's ability to provide basic services, feeding inequality and injustice and discouraging foreign aid and investment. Corruption is a key element in economic under-performance and a major obstacle to poverty alleviation and development." (Kofi Annan, former UN Secretary General)

If you have any doubts, or wish to raise any concerns regarding any potential corrupt activities, please contact us by emailing whistleblowing@royalmint.com. Alternatively, you can contact our Whistleblowing Hotline from 9am-5.30pm on 029 2047 4093 (quote reference: The Royal Mint Limited – Whistleblowing Concern).

Guiding Principles

We are committed to eradicating corruption, and we will always stand by you in acting ethically. Remember, take the RIGHT approach, and we can eradicate corruption together:

  • Responsibility. You are responsible for your actions. If you break the law, you will face the consequences - which could mean a fine, imprisonment, or both.
  • Integrity. Never compromise your integrity. If you think something is wrong, ALWAYS report it. If you aren't sure, consult the Anti-Bribery and Corruption Policy. Never let yourself be forced into doing something you know or suspect is wrong.
  • Genuineness. Always pay genuine prices for genuine goods and services. Never pay over the odds. Agents who ask for especially large fees or commissions may do so in order to pay bribes on your behalf. If this happens, you will be responsible. Excessive payments are obvious and will always be uncovered.
  • Honesty. Act honestly and in good faith at all times and in all aspects of your work.
  • Transparency. Keep accurate records (including all invoices and receipts) especially in relation to the payments you make and what they are for. Full and accurate records demonstrate complete transparency and that you have nothing to hide.

Do the RIGHT thing.

Last Updated 05/02/2020

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