Code of Ethics
In early 2016, ALTEO Group published its Code of Ethics, implemented an anonymous online reporting platform and regulated the procedures for ethical reviews. ALTEO Group’s ethics hotline is available in the afternoon two days a week, while the online reporting system can be used free of charge 24 hours a day, 7 days a week, 365 days of the year.
Our Code of Ethics is available to all interested parties on the ALTEO Group’s website. Our employees were made aware of the Code of Ethics as part of an individual training course which also provided a great opportunity to get answers to their questions.
When formulating the ALTEO Group’s Code of Ethics, we wanted to create a useful guide that would offer help and protection to our employees and provide information to our partners about the standards of behaviour represented and required by our Group. This document provides a summary of the ALTEO Group’s core ethical principles, the specificities of our behavioural and corporate culture, the possibilities for the promotion of interests, the priorities and certain responsibility issues.
The standards established in the Group’s Code of Ethics impose higher requirements on Group employees compared to existing laws. We believe that well-intentioned actions that otherwise do not violate any laws may have harmful consequences for the Company and its employees in specific cases.
In addition to core ethical principles, such as the protection of and respect for universal human rights, fairness, trust, decency, tolerance and responsibility, our culture is based on common corporate values including integrity, commitment, expertise, effectiveness, the pursuit for excellence, sustainability and fun.
Please note, that the Code of Ethics is currently only available in Hungarian. For further details, please check the Hungarian website.
Integrity: we are fair, honest and trustworthy. Integrity is a key principle in all our actions. It determines how we act and how we behave towards each other and all our partners.
Commitment: we are committed to our customers, team members, communities, shareholders, suppliers and partners and want our business units to have a positive overall contribution to the development of society.
Expertise and pursuit of excellence: we want to be the best in everything we do. We aim to carry out our responsibilities to a high standard and to the satisfaction of both ourselves and our partners.
Effectiveness: we aim to do business in a way that enables us to improve the profitability of our Group year after year.
Compliance is important in identifying any unethical or illegal non-compliance, irregularities or infringements that carry excessive business or work safety risks, establishing responsibilities, initiating corrective measures and monitoring actions taken by business areas, in order to ensure that the Company's operations comply with the applicable laws, internal policies and the Company’s Code of Ethics.
The ALTEO Group launched its Compliance programme in 2015, published its Code of Ethics, adopted its Compliance Policy and established a Compliance Committee in January 2016. The Compliance Policy and the Code of Ethics are reviewed on an annual basis. When developing the Company’s regulatory regime, our aims were to ensure operational transparency, establish the framework of our business activity, document our processes, establish cooperation among business areas, clearly define tasks and determine the related responsibilities.
All managers and employees of the Group are required to adhere to the Compliance Policy. The Compliance manager is entitled to obtain all data, information and documents owned by the Company and access and obtain any data kept on storage media and computers owned by the Company within the framework provided by privacy and data protection legislation. Risks identified during investigations, and measures proposed to eliminate or reduce them, are recorded in a database, any non-compliance identified is regularly followed up. The previous year’s Compliance activity is analysed and a summary report is prepared once a year for the Compliance Committee and the Supervisory Board. The annual Compliance Report is published in collaboration with our staff and made available on the ALTEO Group’s website. Regular training is held with the aim of preventing any potential abuse and promoting awareness.
Submit your report
as an ALTEO employee
- – directly to your manager,
- – to the Compliance Manager,
- – by post to H-1131, Budapest, Babér út 1-5.,
- – by phone by calling the ALTEO Group’s ethics hotline on +36 1 236-8055 (Mondays and Wednesdays during working hours between 2.00pm and 5.00pm) or by fax on +36 (1) 236 8051,
- – by email at email@example.com,
- – by contacting the Compliance Committee’s Secretary on +36 1 236-8050 or to firstname.lastname@example.org if neither the Compliance Manager nor the ALTEO Group’s ethics hotline is available.
Reports can even be submitted anonymously by email through the online reporting system which is available 24 hours a day, 7 days a week and 365 days a year. If an investigation was launched, but has not been concluded within two months, both the person submitting the report and the person implicated in the report will get a notification by email about the expected date of conclusion of the investigation. The person submitting the report, the person implicated in the report and the staff involved in the investigation may raise a complaint about the investigation in a written notification submitted to the Secretary of the Compliance Committee and the ALTEO Group’s Compliance Committee will be required to take a position on the issue and inform the person submitting the complaint to that effect.