Anti Corruption Policy

This document sets out the policy of IIFL Finance Limited “IIFL” on combating corruption and to conduct all of our business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption and are committed to act professionally, fairly and with integrity in all our dealings wherever we operate. We are also committed to implement and enforce effective systems to counter bribery. This document sets out the Company's long-standing policy on bribery and other forms of unlawful payments (“Policy”). It applies to all subsidiaries and operations.

This Policy shall apply to all staff including directors, officers, shareholders of the Company and all appointed third party representatives of Company such as agents, consultants, others working on behalf of the Company irrespective of their location, function or grade. We require those providing services on our behalf to undertake their business without bribery or corruption.

It is required to comply with all applicable anti-bribery and corruption laws and regulations when doing business on behalf of the company. These laws include the United Kingdom Bribery Act 2010 and other applicable laws relating to anti bribery and anti-corruption.

“Bribery” is the “offer of undue reward by or to any person in a public sector, private employee, colleague or representative of another organisation in order to influence his / her behaviour in office and to induce them to act in contravention of the rules and regulations, ethics, trust and integrity”.

“Corruption” is the “abuse of entrusted power for private gain”.

The key Principles

IIFL employees and third-party service providers are prohibited from:

• Offering or suggesting a Bribe, or authorising the offer or suggestion of a Bribe
• Paying Bribes
• Soliciting or accepting a Bribe to influence a decision, to obtain unauthorised access to confidential information, or to commit or omit to do an act, whether or not the outcome would have been the same without the Bribe
• Making facilitation payments
• Using another party to conduct any of the above
• Using vendors or suppliers that do not have high standards on bribery and corruption
• Processing funds known to be, or reasonably suspected of being, the proceeds of bribery or corruption

For the purposes of this Policy ‘facilitation payment’ means small unofficial payments paid to speed up an administrative process or secure a routine government action by an official. However, facilitation payments should be contrasted with official, lawful, receipted payments (typically to an organisation rather than an individual) to expedite certain functions, e.g. where there is a choice of fast track services to obtain a passport.

If the safety or loss of liberty of staff or third-party service provider is at risk, the payment should not be refused. In all circumstances any demand for facilitation payments must be reported to the compliance officer immediately.

IIFL shall endeavour to appoint third parties as agents and contractors with high repute and who have committed to adherence with all applicable laws and regulation. In addition, the bribery and corruption risks are monitored and managed effectively in order to maintain a strong control system.

Infringements of this Policy may result in disciplinary action by IIFL, including dismissal, and may involve criminal or regulatory proceedings for individuals and IIFL.

This Policy should be read in conjunction with IIFL’s Gifts policy. As it has been widely acknowledged that corporate gifts and hospitality, whether lavish or not, can be used as a subterfuge for bribery and corruption, it is therefore important that compliance with this Policy includes adherence to the rules within IIFL’s Gifts policy as well as following the spirit of IIFL’s zero-tolerance approach to bribery and corruption.

Policies and guidance cannot cover every circumstance. We therefore provide some guidance below to help you make decisions about appropriate business conduct. If you can answer yes to following quick questions, you might feel comfortable in proceeding.

• Is the action legal?
• Is it right? Is it honest?
• Is the action consistent with the terms and spirit of this policy and our values as a business?
• Does it avoid creating a sense of obligation?
• Can I justify this to my manager, the responsible person and to my family?
• Would I feel comfortable if the action became public knowledge?

In any case of doubt, you should discuss the situation with the nominated responsible person.

The following are examples of relationships and events that could lead to a higher risk of bribery and corruption.

Where an agent or intermediary is used to make introductions to officials of public or government bodies and agencies, steps must be taken to ensure that any fee paid by IIFL is proportionate to the activity being performed and in accordance with local law and the requirements of this anti-corruption policy.

No such fee payments can be made without the express approval of business line management who may obtain advice from Compliance or, if necessary.

When funds are donated in IIFL’s name for charitable purposes, appropriate due diligence must be conducted to ensure that, where a public official or public body is associated with the charity, written agreement is obtained.

Any charitable donation must always be made directly to a recognised charitable organisation and not via another party or individual. In case of doubt refer to line management who may obtain advice from Compliance officer.

Appropriate due diligence must be conducted when public officials, their relatives or their close associates are invited to any entertainment provided by IIFL, or when payments are made to them by or on behalf of IIFL.

No political contribution to a candidate for public office, an elected official, a political party or political action committee, can be made, on behalf of IIFL without prior approval from the Compliance Officer.

Care must be taken when providing work experience or employment to people that are connected to, or are relatives of, senior public officials. Although it is not prohibited to employ such staff it is important to avoid any perception that any hiring is for an improper purpose. Where such a hiring is being considered, approval from business line management must be obtained.