Ethics & Compliance
Our work rests on the trust of shipowners, charterers, buyers and sellers. These are the commitments we operate by and require of anyone acting on our behalf. They are set out in full in our Code of Ethics and Conduct, our Anti-Corruption Policy, our Sanctions Policy, our Information Security and Fraud Prevention Policy and our Whistleblowing Policy, which together form our integrity policy under Article 25 of Mexico's General Law of Administrative Responsibilities.
1. Integrity in every transaction
We pass on offers and terms accurately and honour what is agreed. Every commission we earn is documented in writing and invoiced in accordance with the law. We handle transparently any interest that could affect our impartiality.
2. Zero tolerance for corruption
- We do not offer, give, solicit or accept bribes or any improper advantage, from or to public officials or private parties, directly or through third parties.
- Gifts and hospitality are reasonable, proportionate and infrequent, and never intended to influence a decision.
- We make no facilitation payments and no political contributions.
- We carry out due diligence on the agents and intermediaries who work with us.
3. International sanctions
We check that the parties and vessels in each transaction are not subject to sanctions that would prevent it, and we take no part in transactions designed to evade them.
4. Accurate records and confidentiality
Our books faithfully reflect our transactions, with no off-book payments or accounts. We protect our clients' information and personal data in accordance with our Privacy Notice.
5. Information security and fraud prevention
We protect our clients' information with two-factor authentication, encryption and backups. We only communicate from @magnitudebrokers.com addresses and never change bank details by email: any change of account is confirmed by telephone, to a number already known.
6. Whistleblowing channel
Anyone may report to us, confidentially and, if they wish, anonymously, any facts that may amount to a breach of the law or of our integrity commitments:
compliance@magnitudebrokers.com
- We acknowledge receipt within 7 calendar days and resolve within 60.
- The identity of the reporting person and the content of the report are kept confidential.
- We prohibit any retaliation against anyone who reports in good faith.
- If a report concerns management, it is investigated by an independent external adviser.
Our full policies are available to clients and counterparties on request at compliance@magnitudebrokers.com.