ONE of SM (Orientation for New Employees of SM)
Institute of Corporate Directors - Professional Directors' Program
In an effort to further nurture and promote the SM Group's corporate governance culture, SMIC's Human Resources Department enhanced its Corporate Orientation Program for New Employees to allow more focus on ethical standards. The program, now referred to as ONE SM continues to give employees an overview of corporate governance and its various components, but also digs deeper into the ethical nature of business. Participants are given exercises that involve ethical dilemmas and are asked to formulate the appropriate responses. The orientation still includes discussions on the SM framework of corporate governance, which covers its Manual of Corporate Governance, Code of Ethics, Board of Directors and other corporate governance policies and programs.
Ateneo Graduate School of Business
In May 2011, SMIC’s Corporate Governance Manager, Mr. Reginald Tiu was invited to present SM’s corporate governance platform, programs and culture to Ateneo Graduate School of Business students. The orientation was held at the Ateneo Professional School in Rockwell, Makati.
Ms. Corazon Guidote, SMIC's Vice President for Investor Relations attended the Institute of Corporate Directors' Professional Directors Program (PDP) in August and September of 2009. The PDP is an intensive five-day course that includes a Corporate Governance Orientation Program and interactive sessions on strategy, policy, monitoring and accountability. The Program aims to instill in corporate officers a commitment to enhance the long-term value of the companies they serve through the observance of corporate governance principles, ethics and social responsibility. Ms. Guidote joined the ranks of ICD Fellows in May 2010.
In July 2010, Mr. Reginald Tiu, SMIC's Corporate Governance Manager successfully completed the PDP held in Cebu.
Seminar on SEC Revised Code of Corporate Governance
SMIC attended a seminar on the SEC Revised Code of Corporate Governance in Makati City on March 19, 2010. The seminar was conducted by Atty. Justina Fernandez-Callangan, Director of the Corporation Finance Department of the Securities and Exchange Commission (SEC). Atty. Callangan discussed the definition of corporate governance and the issues related to it, the responsibilities, duties and functions of the board of directors, the role and accountability of auditors, among others.
The seminar also included a presentation on the latest memorandum circulars and legal opinions of the SEC by Atty. Gerard M. Lukban, Commission Secretary and Spokesperson of the SEC. A presentation on best practices in corporate governance was also given by Mr. Rodolfo C. Salazar, who has successfully implemented corporate governance in various business organizations.
In January 2010, the University of the Philippines-Diliman Engineering Student Council invited SM to speak about the SM Group's corporate governance culture and practices at its annual Engineering Summit. The summit is an exclusive leadership seminar for graduating students. Atty. Jewel Austria, SMIC Vice President for Corporate Governance, represented SM at the seminar and discussed SM's governance structure, platform and policies.
In November 2009, several SM officers attended an Anti-Money Laundering Law (AMLA) seminar conducted by Director Vicente Aquino of the AMLA Secretariat. The SM officers in attendance were Messrs. Hans T. Sy, Herbert T. Sy, Harley T. Sy, and Jose T. Sio, and Atty. Corazon I. Morando. The seminar was sponsored by China Banking Corporation.
In December 2008, SMIC participated in a Corporate Governance and Anti-Money Laundering Seminar. Experts from the Securities and Exchange Commission, Bangko Sentral ng Pilipinas, Ateneo de Manila College of Law and KPMG presented on the principles, standards, assessment and legal aspects of corporate governance; the features and enforcement of the Anti-Money Laundering Act; corporate risk management, and financial reporting and auditing aspects of corporate governance and the Anti-Money Laundering Act. The seminar was organized by the Philippine Securities Consultancy Corporation and participated in by officers from various businesses. SMIC was represented in the seminar by its Vice President for Corporate Governance, Atty. Jewel C. Fernandez-Austria.
In May 2009, SMIC conducted a series of seminars on the Anti Money Laundering Law for its Finance and Sales staff in the property group (SM Land, Inc., SM Development Corporation and Highlands Prime, Inc.). The objective of the seminar was to explain the impact of the Anti Money Laundering Law on the real property business, and to discuss what the SM staff can do to prevent money laundering. The seminar also gave the attendees an overview of the salient provisions of the Anti Money Laundering Law, namely on: the offenses and corresponding penalties, covered and suspicious transactions, the powers and functions of the Anti Money Laundering Council, and the safe harbor and confidentiality provisions in the law.
The seminars were attended by staff from Sales and Finance groups as well as sales managers and agents.
In April 2009, SMIC conducted a series of orientations on the revised Code of Ethics for its employees. The orientation aimed to drill down to the employees their rights and obligations under the Code. Salient provisions of the revised Code were discussed, with emphasis on the reporting of fraudulent or dishonest acts, acceptance of gifts from business partners, conflict of interest, disclosure of business information, and insider trading.
Beginning in February 2009, Corporate Governance has been included in the Human Resources Department's Corporate Orientation Program for New Employees as well as the Re-Orientation Program for employees who have been employed with SM for five years or more. Through this program, SMIC aims to give its employees an overview of corporate governance and its various components. The orientation also includes a discussion of the SM framework of corporate governance, which covers its Manual of Corporate Governance, Code of Ethics, Board of Directors and other corporate governance policies and programs.