| Regulatory Compliance |
Bristol Mayers Ltd is a multinational corporation with key offices in London, Germany and Singapore. The company was incorporated in 2014 with a Mission to provide best-in-class medical products, at cost-effective prices through superior customer service.
Its Vision is to bridge the distribution gap between dealers and healthcare providers, through its robust online platform and become a single touchpoint to connect Manufacturers, Dealers, Medical Professionals in the world. Due to a merger in 2016 with a leading technology company in Germany, the company’s capabilities grew significantly and which allowed Bristol Mayers to expand its product line to include a wide range of cutting-edge medical products.
In 2018, the company entered into a joint-venture agreement with a Chinese company and relocated its manufacturing plant to China which significantly reduced its costs. Their breakthrough end-to-end service leverages top IT infrastructure to guarantee convenience, great prices and complete satisfaction to customers.
Backed by the expertise of medical experts, proprietary technological inventions and reduced costs, the company is now the leading medical products supplier in the world and has grown significantly in staff strength, distributors, suppliers and customers.
The current global pandemic has caused a greater demand for many of its products and equipment and because of its rapid growth, the management made a strategic decision to streamline all its operations and to ensure that its staff and global sellers/dealers adhere to stringent standards, comply with all local and international regulations and follow best practices to deliver high-quality medical products.
As part of the streamlining process, the company relocated its HQ to Singapore and has employed a new Chief Compliance Officer (CCO) at the Singapore office to oversee all its regulatory compliance matters. Apart from the strong legal framework for which Singapore is reputed, the HQ relocation will also allow the company to leverage special government grants and tax reliefs.
You are the new CCO and responsible for enabling the efficient and effective governance of significant risks, and related opportunities, to all businesses and their various segments. As the new CCO, draft 2 Policies for Bristol Mayers Ltd. Choose ANY TWO (2) from the following below:
1. Draft a Data Protection & Privacy Policy and write a report on the Key Challenges;
2. Draft an Anti-Bribery & Corruption Policy and write a report on the Key Challenges;
3. Draft a Corporate Governance Code & Policy for the Board of Directors and write a report on the Key Challenges;
4. Draft a Contract Management and Procurement Policy and write a report on the Key Challenges;
