Corporate Governance

Ethical Corporate Management

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Formulation of Ethical Management Policy and Measures

The top business philosophy of VIS is "Honoring the principle of good faith, abiding by an exacting code of professional ethics" and VIS' "Professional Code of Ethics" provides guidance for all employees to understand and implement in good faith. The Professional Code of Ethics for Directors also provides that all directors shall perform their duties with good faith and based on professional standards. Furthermore, to foster a corporate culture of ethical management and create sound business operation model, VIS formulates "Ethical Corporate Management Best Practice Principles" in accordance with "Ethical Corporate Management Best Practice Principles for TWSE/GTSM Listed Companies" to assure the compliance.

VIS' "Professional Code of Ethics" further provides the operating procedures, measures, disciplines and appeals, annual conflicts-of-interest report and employee trainings to assure compliance of all requirements.

Implementation of Ethical Management

To achieve sound ethical corporate management, VIS has designated Human Resource Division as the responsible unit for the planning and execution of ethical corporate management policies and prevention programs.

VIS requires that its directors, supervisors, managers, employees, mandataries, and substantial controllers shall observe applicable laws and regulations. VIS shall engage in commercial activities in a fair and transparent manner based on the principle of ethical management.

The following are strictly prohibited:

Vanguard has established and publicly announced the following independent mailboxes to allow company insiders and outsiders to submit reports:
Mailbox of the Audit Committee: (audit_committee@vis.com.tw)
Mailbox of the Chairman: (vis_chairman@vis.com.tw)
Mailbox of the President: (vis_president@vis.com.tw)

When the Audit Committee receives reports of suspected breaches of ethical corporate management best practice principles, it shall appoint suitable internal or external personnel to form an investigatory team. The investigatory team shall comply with the principles of fairness and nondisclosure and perform investigations and compile reports to the Audit Committee.

Training Record of Corporate Ethical Management

VIS hosts internal training, including online and face-to-face courses, on ethical management annually and designates representatives to participate external training programs or forums (e.g., a corporate governance forum hosted by the Agency Against Corruption). In addition, experts from the Taiwan Corporate Governance Association were also retained to visit VIS and carry out an ethics review. In 2020, on topics including ethical management best practice principles, code of professional ethics, corporate social responsibility, and protection of proprietary information, VIS' employees participated a total of 10,481 times in the training completing 6,463.01 training man-hours. Through these trainings, employees should fully understand VIS' commitment to ethical corporate management and shall implement the same in their daily works.

Course Number of times Training man-hours
DL IDL DL IDL
Ethical management best practice principles code of professional ethics 2,218 2,817 1,502 1,408.5
Protection of proprietary information 2,223 2,885 1,924.25 1,442.5
Corporate social responsibility (On-the-Job Training Employees) 6 332 3.16 182.6
TTL 4,447 6,034 3,429.41 3,033.6

(Note: The number of completed training is counted by December 31th, 2020)