Metals Technology Initiative Publishes Compliance and Due Diligence Guidance on New Website – Tech Times

The Metals Technology Initiative (MTI), an anti-corruption collective action initiative of four leading firms in the metals technology industry, has launched a website to make its guidance on gifts and hospitality and on third-party due diligence freely accessible to all.

MTI is an anti-corruption and fair competition Collective Action initiative that brings together the four leading firms in the metals technology industry: Danieli (headquartered in Italy), SMS group (headquartered in Germany), Primetals Technologies (headquartered in the UK), and Tenova (headquartered in Italy).

(Photo : Basel Institute on Governance)

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The guidance documents address the specific compliance risks faced by companies working globally in the metals technology sector.

Co-developed by the initiative's member companies during meetings facilitated by the Basel Institute's Collective Action team, the guidance documents are designed to help strengthen and set best practices on these critical topics for anti-corruption compliance. They are designed to be practical and user-friendly, with relevant case scenarios to help users consider how the guidance might apply in practice.

MTI member companies have committed to follow the guidance in their own companies. Other firms operating in the metals technology industry, or in other industry sectors facing similar compliance risks, are very welcome to adopt the guidance for their own anti-corruption compliance programmes.

The Metals Technology Initiative and Its Key Principles

MTI is an anti-corruption collective action initiative for the metals technology industry, which was formalised in 2014. Senior compliance managers from the four member companies meet three times per year to exchange best practices and knowledge in anti-corruption compliance and fair competition. The meetings are convened and facilitated by the collective action team at the Basel Institute on Governance, which also serves as the initiative's Secretariat.

The guidance documents align with and extend the five key principles agreed upon in the member companies' Memorandum of Understanding:

1. Commitment to acting with integrity in business practices

2. Developing and implementing an anti-corruption compliance programme

3. Fair competition

4. Addressing key risks

5. Sharing best practices

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Metals Technology Initiative Publishes Compliance and Due Diligence Guidance on New Website - Tech Times