a. At H. K. Designs , our philosophy is to measure success by not only the results we achieve, but also how we achieve them.
b. This Business Principles document, adopted by H. K. Designs sets forth the basic internal standards to be observed by all directors, officers and employees of the Company with respect to conducting business in a legal, ethical, professional and accountable manner.
c. The company is required to take appropriate steps to ensure that the same is understood and put into practice by all of its directors, officers and employees.
Legislation and Regulations
a. H. K. Designs shall operate in compliance with relevant national and international legislations / regulations as applicable in the countries in which they operate.
b. All personnel are expected and directed to comply with all applicable laws and regulations as well as all internal Company rules and policies relating to their business activities.
c. Compliance team maintains the list of applicable legal and regulatory requirements and same is followed for compliance on day to day basis. Necessary records of requirements and its compliance is maintained.
Money Laundering, Terrorism Financing, Other Financial Offences
a. H. K. Designs recognizes the fact that entities in the gems and jewelry sector have to take on the onus of analyzing their potential vulnerabilities to money laundering and implement specific steps that are required for protection against abuse by criminals.
b. Strict compliance is required at all times, with all applicable national and, where appropriate, international laws / regulations with respect to money laundering, terrorism financing, bribery, facilitation payments, corruption, smuggling, embezzlement, fraud, racketeering, transfer pricing and tax evasion.
c. H. K. Designs shall act in accordance with national laws with respect to auditing of its financial accounts and maintaining internal controls as guided by various regulations.
d. It is the responsibility of concerned personnel to know and understand the relevant money laundering / financial offences related legal, regulatory and internal requirements as they apply to their jobs. Ignoring or not reporting suspicious activity that appears to be questionable may also be considered as a violation of the Business Principles, depending on the seriousness of the non-conformance.
e. Compliance officer ensure all the critical steps such as KYC & KYS, Identification of suspicious transaction, reporting to management and record keeping as required by the local act and legislations are complied with.
Kimberley Process and System of Warranties
a. H. K. Designs is fully committed to complying with all the requirements specified in the Kimberley Process Certification Scheme and World Diamond Council's (WDC) System of Warranties Declaration.
b. The definition of 'Conflict Gem Stone Diamonds' as agreed by the Kimberley Process will be adopted i.e “The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict in compliance with United Nations Resolutions and corresponding national laws. The seller hereby guarantees that these diamonds are conflict free and confirms adherence to the WDC SOW Guidelines."
c. Wherever applicable, the following affirmative statement as recommended by the World Diamond Council's System of Warranties should be printed on all the invoices: “The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict in compliance with United Nations Resolutions and corresponding national laws. The seller hereby guarantees that these diamonds are conflict free and confirms adherence to the WDC SOW Guidelines".