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Notice on the entry into force of ROHMA Circular 2014/2


ROHMA highlights issues concerning the circular on the internal organization of companies in the commodity sector that entered into force 1 April 2014.

ROHMA Circular 2014/2 contains requirements for corporate governance, for supervision and internal control, as well as for supervision by the competent authorities of companies in the commodity sector. ROHMA underlines the fact that oversight of this sector is primarily the responsibility of the companies themselves.

ROHMA invites companies in the commodity sector to ensure compliance with the provisions of ROHMA Circular 2014/2 before the end of the year. In particular, these companies must have internal supervisory bodies (notably an independent compliance unit), a specific body tasked with ensuring compliance with the company’s due diligence requirements under the Commodities Act as well as the risks posed by the company’s activities, and specific procedures aimed at meeting their different duties (for example, duty to report violations of the law by third party companies or the implementation of whistleblowing procedures).

ROHMA Circular 2014/2 also set outs specific responsibilities for the various organs of the company (board of directors, management, audit committee). These internal procedures should be subject to an external audit performed annually by a company approved by ROHMA. The first audits are to be carried out starting from the end of the year.

Companies in the commodity sector are invited to contact ROHMA for any additional information or for any technical advice concerning the provisions on corporate governance.

Oliver Classen, spokesman, tel. +41. (0)