Programme for Compliance with Competition
This program shall enter into force in order to create a framework for ensuring compliance with the Law No. 4054 and the regulations issued in accordance with this law and to determine a consistent approach in this regard.
The compliance program covers the enterprise and all companies under the control of the enterprise. In addition, this framework will also cover other enterprises which have supply and the distribution relation with the enterprise, where applicable.
Within the scope of the compliance program Midas Consultancy team prepare, revise and evaluate vertical and horizontal agreements which will be signed between our clients and the firms that they have business relationships in order to avoid violations on competition.
The Compliance Program shall be implemented in collaboration of Midas Consultancy and the enterprise and the details of the program will be determined together. In order to provide an effective and successful implementation of this program, an executive for the competition will be assigned within the company, the execution of the program and necessary arrangements on the program will be made in coordination with this person by the human resources unit.
Senior Management Support
The intervention of the senior management is extremely important in showing the importance of compliance with the rules of the competition. The participation in these programs at the highest level will also increase the awareness of the lower ranked administrators and other employees and encourage them.
Determination of Appropriate Policies and Procedures
The Competition Compliance Program shall be converted into a written manual containing the steps to be followed up and the rules of doing business in compliance with the competition act. This text will be prepared in a language that all employees of the company understand and will be updated according to the regulations on competition based on changes in the company's operations and developments.
Training of Employees and Administrators
Executing the Competition Compliance Programme in an effective way, is possible by training the administrators and the employees. The training on basic principles and rules of competition act shall be provided primarily at the stage of recruitment and repeated at regular intervals especially for the executives of sales, marketing and purchasing, where the level of risk higher. Moreover, the employees shall be informed about the actual developments such as changes in the legislation as well as decisions of the Board, that may affect corporate policy.
The training shall also include the staff such as security guards and officers at the counters, who will meet the specialists of competition in first hand in case of an audit. The attendees of the training shall be tested at the time specified by the department of human resources, and those who cannot succeed in this test shall attend the training again. The process will continue until they pass the test. Exam results will be stored in the staff files.
Establishment of Monitoring, Auditing and Reporting Mechanisms
For the success and credibility of the Competition Compliance Programme, it is important to establish the basic mechanisms to provide to act in accordance with the rules of competition. Monitoring, auditing and reporting mechanisms, indicating that the activities of the administrators and employees are really checked and, thus making them more careful, have the function of detect violations at a very early stage and serve to prevent them.
The monitoring mechanism is mainly preventive. Before the accomplishment of processes defined as highly risky, by the administrators and the employees, it is an effective way to let the Legal Adviser review it in terms of law No. 4054 before operations in order to prevent possible violations.
The auditing mechanism shall be designed in an appropriate manner to determine whether it is contrary to the rules of competition, and if there is violation, it shall avoid. In order to meet this requirement, audits should be performed after a specific process in place on regular or irregular intervals.
Reporting mechanism shall be designed in an appropriate manner to encourage a staff to report a doubtful violation to the concerned people. In case the employees report in a timely and reliable manner, the company will be enabled to review the suspicion of violation comprehensively and take the necessary measures.
Incentives and Sanctions
The success of Competition Compliance Programme depends on the fulfilment of the respective responsibilities by the administrators and employees and acting carefully. Therefore, the fulfilment of the required training on basic principles and rules of competition act is a prerequisite for recruitment. In case the employees fail to behave in compliance with competition rules after the training, it is possible to impose them sanctions with the decision of the management. Abovementioned sanctions might be oral and written warnings, evaluation of the financial rights of the employee according to the success on behaving in compliance with competition rules and similar sanctions. Also, employment contracts might be prepared or revised by our lawyers in accordance with these criteria.