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Development of the compliance function

The building up and development of the compliance function is a means of ensuring compliance with applicable regulations.

The implementation of the compliance function is, firstly, to reveal and eliminate non-compliances with local regulations in force in ROSATOM and the Company, as well as with federal or international legal acts. Secondly, the implementation reveals and eliminates non-compliances of the Company’s business practices and requirements of a recommendatory nature, customs, and best business practices, which can restrain the Company’s activities or reduce its competitiveness as Russia’s leading supplier of uranium products.

In 2013, ROSATOM worked out a plan for measures on the development of the compliance function in the nuclear industry for 2013– 2014. Under this plan, in the reporting year, the Company divisions conducted an audit of its compliance function. Based on its results, the Company’s risk register and pyramid were supplemented with risks revealed by the audits, while the owners of these risks were allocated and an analysis of measures to manage them was carried out.

The first constituent of the compliance function (non-compliance with legal acts) is managed in terms of the Company’s RMS.

Regarding the second constituent of the compliance function (non-compliance with recommended rules of the business), in the reporting year, an analysis of meeting requirements for international projects of the Company set forth by foreign partners and regulators was carried out.



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