Anti-bribery and corruption statement

Introduction

The Bribery Act 2010 (“the Act”) is effective from 1st July 2011. The Act repeals and consolidates previous corruption legislation. In addition to the established criminal offences of giving and receiving a bribe, this Act places specific responsibility on organisations to have in place adequate procedures to prevent bribery. Should bribery occur, as well as the offences on the part of the individuals concerned, organisations will also be liable for the corporate offence of failing to prevent bribery unless they can demonstrate that adequate preventative measures were in place.

Bribery occurs where there is intent to give someone a financial or other advantage to encourage that person to perform their functions or activities improperly or to reward that person for having already done so. It is an inducement for an action which is illegal, unethical or a breach of trust, and can take the form of gifts, loans, fees, rewards or other privileges.

Scope

The Act applies to firm’s who do business in the UK (whether incorporated in the UK or not), doing business anywhere in the world. An offence under Sections 1, 2 and 6 of the Act apply to acts committed overseas (where the act or omission would have been an offence if done or made in the UK) and the person has a “close connection” with the UK. Those with a close connection are defined to include British citizens, individuals ordinarily resident in any part of the UK and bodies incorporated under UK law.

It will be a defence (under section 7 (2)) for a commercial organisation to prove that it had in place adequate procedures designed to prevent persons associated with it undertaking offences under the Act. All directors and employees are required to comply with this Anti-bribery Policy.

Offences

The Act’s statutory offences are as follows:
Offences of bribing another person “The active offence” (Section 1)
It is an offence to offer, promise or give a financial or other advantage (“bribe”) to another person where it is intended to induce the improper performance of a relevant function or activity or to reward for such an improper performance. Maximum penalty: 10 years and or unlimited fine.

Offences relating to being bribed “The passive offence” (Section 2)
It is an offence for a person to request, agree to receive or accept a bribe. It does not matter whether the recipient of the bribe receives it directly or through a third party.
Maximum penalty: 10 years imprisonment and or unlimited fine.
Bribery of foreign public officials (Section 6)

It is an offence to bribe a foreign public official (“FPO”), where it is intended to influence the FPO in the performance of his or her official functions in order to obtain or retain business or an advantage. 

Maximum penalty: 10 years imprisonment and or unlimited fine.

Failure of commercial organisations to prevent bribery (Section 7)

It is an offence for a commercial organisation (including a body corporate, partnerships conducting business in the UK) to fail to prevent bribery by persons performing services on its behalf (“associate persons”). Such an offence will arise where a person associated with the organisation bribes another person intending to obtain or retain business for the organisation or to obtain or retain an advantage in the conduct of business for the organisation. Persons "associated" with the organisation could include employees, agents, contractors and joint-venture arrangements and subsidiaries. However, a subsidiary will only be an associated person if the bribe obtained is intended to benefit the Parent directly. Penalty: unlimited fine.

Offences under sections 1, 2, and 6 by bodies corporate (Section 14)

A senior officer of a commercial organisation will be personally liable if the offence under section 1,2 and 6 has been committed with his/her consent or connivance which in the absence of a technical definition shall be taken to mean participation, involvement, responsibility or collusion.
Maximum penalty: 10 years imprisonment and or unlimited fine.

Procedures

The Ministry of Justice has issued Guidance that sets out the six principles intended to assist a firm in ensuring that the adequate procedures are proportionate to the nature, scale and complexity of a firm and to assist a firm in complying

Top level commitment

CCLA is committed to deterring, preventing and detecting bribery in the following ways:

  • There is a zero tolerance policy towards bribery and such acts would be regarded as gross misconduct or breach of contract. Staff may also face legal action by the Serious Fraud Office (“SFO”) if they act in breach of this Policy (see penalties under the offences outlined above).
  • The giving or receiving of improper inducements, of any value, is strictly prohibited.
  • Facilitation payments must not be made or charged.
  • The nature of each of CCLA’s sponsorship relationships is fully documented in an approved marketing plan. CCLA does not make financial contributions to favour particular political parties. Charitable donations are rare and are approved at formal meetings of the executive directors.
  • The executive directors have taken reasonable steps to ensure that all staff are aware of this Policy in respect of corruption and that it works along-side existing policies which, in sum, is considered to be the anti-corruption framework of CCLA.

Risk assessment & proportionality

A periodic risk assessment will be carried out to ensure that CCLA’s procedures are proportionate to the bribery risks the firm or its associated persons face, and to the nature, scale and complexity of the business. CCLA’s risk has been assessed as generally low because it does not operate in a risky business sector and is a relatively small firm. Most of CCLA’s third party associated persons are UK suppliers of standard goods or services to CCLA which are considered to represent a very low to zero risk. Many of these are Financial Conduct Authority (“FCA”) regulated firms. Also, the jurisdiction is mainly UK only. Some third parties are given capital for onward investment including in offshore markets.

CCLA’s procedures have been determined with these risks in mind, including the actions we are taking for particular third parties. These risks are reconsidered on an informal basis at the time for new lines of business and new business relationships.

Due diligence

Due diligence is carried out to help prevent associated persons from bribing on behalf of the CCLA. This includes due diligence on directors, employees, agents and other third parties as determined by our risk assessment.

New business relationships (1) are assessed and approved by at least two directors prior to the commencement of the engagement of services, and follow a proper tender process.

Communication & training

CCLA has a zero-tolerance approach to bribery and corruption and this is communicated to all third parties that provide a service to CCLA at the outset of the business relationship. To enhance awareness and help deter bribery CCLA has the following arrangements in place:

  • All directors and employees of CCLA, together with third parties operating in overseas markets (and possibly others as determined from time to time from our risk assessment and contract approval process) receive training or training material on CCLA’s Anti-bribery Policy and procedures.
  • CCLA obtains a written acknowledgement from these persons of the need to comply with this Policy and the CCLA Compliance Manual. This takes the form of either an electronic / written record at the end of mandatory training sessions, or part of an annual declaration of adherence within the performance review process, or an email or letter of confirmation to the Head of Assurance.
  • Any subsequent revised revisions of the Compliance Manual will be circulated to all staff.
  • When contracts are renewed an anti-bribery clause is to be added.
  • Other third parties where there is a lower risk of bribery will receive notification of the Anti-bribery Policy with a request to comply.
  • Future associated persons will be treated similarly at the time of appointment.
  • As a deterrent to others, CCLA’s Anti-bribery Policy is published on its website.

Monitoring & review

CCLA will monitor and evaluate the effectiveness of its bribery prevention procedures as part of the compliance monitoring programme.
A formal update and review of the risk assessment is carried out every 2-3 years in conjunction with the existing fraud risk assessment process.
Changes to business partners and lines of business are considered in relation to bribery risks, as they occur.
Gifts and hospitality below £100 given or received by employees (including executive directors) must be notified to Compliance and anything over £100 must be notified and approved by Compliance. All gifts and hospitality given or received are reported to the Assurance Committee on a quarterly basis. Each notification must be accompanied by a statement that they do not constitute any form of inducement to encourage improper conduct and do not create a conflict of interest.

(1 For the purpose of this policy a business relationship refers to contractual relationships with third parties providing professional services that support the core business activities of asset management and fund administration and does not include ancillary services such as general office supplies.)

Business meals are exempt from the notification requirement.

Cash of any value cannot be given or accepted.

There is a dual control approval process for all company payments which ensures they are for valid purposes.

Raising a concern

Should members of staff (or any associated persons) be approached with a bribe or wish to report any concerns or allegations they should report the matter confidentially to the Chief Executive or to the Head of Assurance using the firm’s Conflict of Interest Disclosure form. They may also make use of the firm’s Whistleblowing Policy and procedures plus the relevant sections of the Staff Handbook.
The Following is a list of possible “red flags” which must be reported promptly if encountered (not limited to):

  • the third party has a reputation of engaging in improper business practices;
  • the third party insists on receiving a commission or fee payment before committing to sign up to contact;
  • the third party requests payment in cash or refuses to sign up a formal commission or fee agreement;
  • the third party requests that payment is made to a country or geographic location different from where the third party resides or conducts business;
  • the third party requests an unexpected additional fee to facilitate a service; and
  • staff are offered an unusually generous gift or offered lavish hospitality by the third party.

Responsibilities of the MLRO

In relation to reports of bribes or suspicion reports made by a member of staff, the MLRO shall be responsible for analysing the basis of these reports. Where a decision has been made not to contact the SFO, a record should be kept internally.
The SFO encourages self-reporting by firms

If you have been a victim of fraud, please call Action Fraud on 0300 123 2040.

CCLA also considers the obligation to report any suspicions to the National Crime Agency (“NCA”). The benefit gained by virtue of a payment of a bribe will be tainted by the act of illegality through which it was obtained and is likely to constitute criminal property under the Proceeds of Crime Act 2002 (“POCA”), the main UK anti-money laundering legislation. Under POCA, criminal property is property that represents a benefit from criminal conduct. A person who did not commit an underlying offence can still commit a money laundering offence where he/she holds property that represents a benefit under that offence. Therefore, it does not matter who engaged in the criminal conduct; where criminal property is generated a money laundering offence will be committed.

CCLA’s MLRO will determine whether or not to report the matter to the NCA.

June 2015

Terms and conditions

Website terms of use policy

Welcome to CCLA's website for:

  • fund management services for The CBF Church of England Funds and the COIF Charities Funds (together referred to as "the Funds"); and for
  • discretionary investment management services for individual client portfolios.

This page provides you with information about CCLA and the legal terms and conditions ("Terms of Use") on which you can access and use this website.

By using or accessing any part of this website, you confirm that you accept these Terms of Use and that you agree to comply with them. Please read these Terms of Use carefully and make sure that you understand them before using this website. If you do not wish to be bound by these terms and conditions you must not use or access this website.

Where necessary, we may amend these Terms of Use from time to time and where this is the case we will do so by updating this page. We therefore recommend that you check this page periodically to ensure that you understand the terms which will apply from time to time.

  1. Information about CCLA

Any reference to "CCLA" on this website (including these Terms of Use) means CCLA Investment Management Limited and/or CCLA Fund Managers Limited (as applicable).

CCLA Investment Management Limited (a company registered in England and Wales with Company No. 2183088) and CCLA Fund Managers Limited (a company registered in England and Wales with Company No. 8735639) are each authorised and regulated by the Financial Conduct Authority ("FCA") under the Financial Services and Markets Act 2000 ("FSMA"), and are entered in the FCA Register under Registration Numbers 119281 and 611707 respectively. CCLA Fund Managers Limited is a wholly owned subsidiary of CCLA Investment Management Limited.

CCLA Investment Management Limited is the manager of The CBF Church of England Funds and provides discretionary investment management services for individual client portfolios. CCLA Fund Managers Limited is the manager of the COIF Charities Funds. The registered office of CCLA Investment Management Limited and CCLA Fund Managers Limited is Senator House, 85 Queen Victoria Street, London, EC4V 4ET.

2. Who may use this website

The information in this website is primarily intended for "charities" in the United Kingdom (and in particular the information in relation to the Funds is intended for UK "charities" only).  "Charities" for these purposes are charities or charitable organisations who are registered with the Charity Commission, or charities exempt from registration, or other persons eligible to participate in collective investment schemes constituted under the Church Funds Investment Measure 1958 or section 24 of the Charities Act 1993, or equivalent organisations in Scotland or Northern Ireland. Certain investments or services to which this material relates may only be available to such persons. This material must not be relied upon or acted upon by any other persons in the United Kingdom.

3. The purpose of this website

This website is for information purposes only and is intended as a general introduction to CCLA and its products. The website content and any products and/or services described within it are subject to change without notice. We do not accept any liability to you, or any third party, for the accuracy, completeness or appropriateness of the information and materials made available on this website and your use of any information or materials is entirely at your own risk provided that nothing contained in this section or elsewhere in these terms shall limit or exclude our liability to you to the extent that such liability is attributable to a breach by us of the FCA's rules, FSMA or any other applicable law.

Any application or investment must only be made on the basis of the relevant investment documents which will be issued to you when you make an enquiry about investing in a CCLA fund, such as, for example, the scheme particulars and terms and conditions. Nothing contained on this website constitutes the provision of investment, tax, legal or other advice.

Persons who do not have professional experience in matters relating to investments are strongly encouraged to consult with a financial adviser before making any investment decision. Any opinions expressed on individual funds, services or products represent our views at the time of preparation and should not be interpreted as a personal recommendation to buy or sell any of the investments that may be referred to.

4. Risk warning

The value of the Funds’ units and/or shares and the income from them can fall as well as rise and an investor may not get back the amount originally invested. Past performance is no guarantee of future returns.

Please refer to the Funds’ scheme particulars for an overview of the investment risks identified by CCLA and the applicable terms and conditions for investing in the Funds, including rules concerning when sums invested may be realised by the investor. Any estimates of future capital or income returns or details of past performance on this website are for information purposes and are not to be relied on as a guide to future performance.

The investments and investment services referred to on this website may not be suitable for all eligible investors.

As the Funds are not authorised unit trusts within the meaning of FSMA, investments or deposits in the Funds are not covered by the Financial Services Compensation Scheme (FSCS).

However, unitholders and/or shareholders may be eligible for compensation under FSCS if CCLA cannot meet its obligations. There are limits on who can claim and the amount of compensation available. Further information about FSCS is available at www.fscs.org.uk

5. CCLA's liability for website content

The information on this website does not necessarily reflect our views and opinions. Neither should any suggestions or advice contained on the website be relied upon in place of individual advice. You are responsible for checking the accuracy of relevant facts, instructions, suggestions and/or opinions given on the website before entering into any commitment based upon them. We do not accept any liability arising from any inaccuracy or omission in the information.

CCLA is not responsible for the accuracy of information contained within websites provided by third parties, which may have links to or from our pages.

The information on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Due to the inherent nature of the Internet, errors, interruptions and delays may occur in the service at any time. Accordingly, this website is provided on an "AS IS" and "AS AVAILABLE" basis without any warranties of any kind. CCLA shall have no liability, contingent or otherwise, to you or to third parties, or any responsibility whatsoever, for the failure of any connection or communication service to provide or maintain your access to this service, or for any interruption or disruption of such access or any erroneous communication between CCLA and you, regardless of whether the connection or communication service is provided by CCLA or a third party service provider.

CCLA shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions, or interruptions in the delivery of the data and services available on this website or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. CCLA makes no warranty whatsoever to you, express or implied, regarding the security of the website.

This service may provide links to certain websites sponsored and maintained by third parties. CCLA makes no representations concerning the content of such third party websites. The fact that CCLA may provide a link to another website does not constitute an endorsement, authorisation, sponsorship, or affiliation by CCLA with respect to that website, its owners, or its providers. Your use of the products and services on this website may be monitored by CCLA.

6. Copyright and trade marks

CCLA is the owner or the licensee of all intellectual property rights in this website, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You must not use any part of the materials on this website for commercial purposes without obtaining a licence to do so from us or our licensors.

No use of CCLA's name, logos and/or other trade marks (whether registered or unregistered) may be made by you without separate express written agreement being given by us, which shall be at our sole discretion.

7. Data protection

We will hold any personal information that you may provide to us through our CCLA website in confidence and in accordance with the Data Protection Act 1998. CCLA is the data controller of any such information for these purposes. CCLA will use any such information for the administration and servicing of your investments and all other related activities. We may disclose your information to our agents and service providers. Where a financial adviser acts on your behalf, we may disclose such information to that financial adviser.

By accepting these Terms of Use, you agree to the processing and disclosure of personal information as above. You are entitled to request details of information we may hold about you upon payment of a fee and to require us to correct any inaccuracies in your personal data.

If you supply such information to us via this website, CCLA may use your personal data to contact you by post, e-mail or telephone to bring to your attention additional products or services which may be of interest to you. You may inform CCLA at any time if you do not want to receive such communications.

Full details of CCLA’s Data Protection Policy, including its Privacy Notice are available on request.

8. Cookies

This website uses cookies to distinguish you from other users of the website. This helps us to provide you with a good experience when you browse the website and also allows us to improve the website.

Please note that when you confirm you have read this page we will place a cookie on your computer to recognise you and prevent this page reappearing should you access this website on future occasions. The cookie will expire after six months, or sooner should there be a change to this important information.

Please note that you can activate the setting on your Internet browser to refuse the setting of all or some cookies. However, if you use your Internet browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of the website. To help us provide a more personalised viewing experience we recommend that you view this website with a JavaScript enabled browser.

For more information about cookies, including how to set your Internet browser to reject cookies, please visit www.allaboutcookies.org.

9. General

Unfortunately, the transmission of information via the Internet is not completely secure. Although we will do our best to protect your information (including personal data), we cannot guarantee the security of your data transmitted to this website; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access. However, CCLA accepts no liability in the unlikely event of a breach of our secure computer servers.

We will use reasonable endeavours to ensure that this website does not contain or promulgate any viruses or other malicious code. However, it is recommended that you should virus check all materials downloaded from this website and regularly check for the presence of viruses and other malicious code. We exclude to the fullest extent permitted by applicable laws all liability in connection with any damage or loss caused by computer viruses or other malicious code originating or contracted from this website.

Each of the paragraphs of these Terms of Use operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.

If we fail to insist that you perform any of your obligations under these Terms of Use, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations.

These Terms of Use are governed by English law and are available only in English. You and we both agree that the courts of England and Wales will have non-exclusive jurisdiction over any dispute or claim arising under these Terms of Use.

September 2015