Mercuria CSR Report 2020 - Flipbook - Page 51
We utilize the services of a number of Data Intelligence
place that enables us to monitor for high-risk manipulative
Companies that provide targeted information to
behaviors and to surveil our communications. Mercuria
maritime, shipping and commodities sectors. Having
will continue to assess the global market risk landscape
these services allows us to gather extensive information,
to identify areas of increased manipulative market
and make well-informed timely decisions. We utilize
behavior. We will continue scale up and dynamically
Polestar’s PurpleTRAC, Kpler and Infospectrum which
add tools and reporting capabilities that will serve to
are well established Data Intelligence providers in the
better mitigate these risks as they present themselves.
commodities industry.
FINANCIAL RESPONSIBILITY
Mercuria strives to continuously develop and improve our
existing Due Diligence procedures. This year we created
Mercuria recognizes that it is our legal and social
a new system a new in-house Customer Management
responsibility to collect and pay the correct amount of
System. We continuously update and review our
taxes in each jurisdiction where we operate.
KYC procedures in conformity with ever developing
international standards. We use Dow Jones Risk and
We ensure our operating structures and presence in all
Compliance (Risk Center) to identify, prevent, mitigate
countries, including low-tax jurisdictions, are grounded
and monitor potentially high-risk counterparties.
in commercial substance and economic activities.
Our tax and finance staff file thousands of tax returns
MARKET MONITORING – TRADE AND
every year. When we fulfill our tax filing obligations, we
COMMUNICATIONS SURVEILLANCE
aim to adhere to best practice and aim for accuracy and
timeliness.
Mercuria is committed to maintaining the integrity of the
markets in which it trades. As part of its commitment
Mercuria may seek the support of an external adviser
to insure this is achieved, Mercuria has implemented
where specialist technical expertise is required, or on
and continues to build out it’s framework for market
matters of material uncertainty.
monitoring and trade surveillance analysis. In doing
so, we have committed to implementing a trading
In accordance with the Group’s Code of Conduct,
compliance culture that keeps market integrity at the
Mercuria pursues an open, transparent and trust-based
forefront.
relationship with tax authorities.
We seek to achieve
this by:
Our market surveillance tools play a key role in expanding
our ability to detect potential rule, regulation and
- Complying with all relevant tax legislation,
procedural violations, as well as to conduct a thorough
regulations and obligations of each jurisdiction and
review, escalation, analysis and, where necessary,
meet all tax filings, returns and payment obligations
remediation of such behaviors. The automation and
on a timely basis;
continued optimization of these tools provide us with
- Paying the right amount of tax on a timely basis;
the ability to continue to streamline our process to be
and,
able to more quickly investigate and resolve potentially
- Working collaboratively with tax authorities to
legitimate alerts.
achieve early agreement on material uncertainties
on a real-time basis, wherever possible.
Mercuria currently has a suite of surveillance tools in
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