At Venga, we value transparency, integrity, and trust in all our operations. Our Conflict of Interest Policy is designed to ensure that our users’ interests are always protected, and any potential conflicts are managed responsibly. Below, we’ve outlined the essentials of this policy to help you understand how it works and how it benefits you as a Venga user.
What Is a Conflict of Interest?
A conflict of interest occurs when an individual or entity has competing obligations or incentives that could compromise their decisions or actions. At Venga, conflicts may arise between:
• Venga’s business operations and customer interests.
• Different customer interests.
• Employees or third-party stakeholders and Venga’s mission.
Examples of Potential Conflicts
To help you understand how conflicts can arise, here are some examples:
• Employee Conflicts: An employee engages in an external job during office hours without prior approval, which impacts their commitment to Venga’s goals.
• Customer Conflicts: Two users have opposing interests regarding the same service or asset offered by Venga.
• Third-Party Conflicts: Venga receives financial incentives from a partner that could influence its decisions, potentially at the expense of its users.
• Personal Transactions: An employee benefits personally from a transaction that conflicts with their professional responsibilities or access to confidential information.
Measures for Preventing and Managing Conflicts of Interest
To uphold independence and objectivity, the Company has established measures to prevent and manage potential conflicts of interest. Key measures include:
1. Guidelines for Action: Clear rules prohibit certain conduct (e.g., sharing client operations) and prioritize client interests with fair allocation of orders.
2. Prevention of Improper Influence: Safeguards ensure employees or departments cannot exert undue influence over others in providing services.
3. Control of Participation: Employees are restricted from roles or activities that could conflict with client interests.
4. Information Exchange Controls: Tailored procedures prevent the exchange of sensitive information between departments or individuals, reducing conflict risks.
These measures are designed to prioritize client interests and maintain ethical operations.
Risk Mitigation and Notification
Preventive Measures: Steps are taken to reasonably prevent or mitigate risks to customers or the Company. If existing policies are insufficient, additional measures are implemented, and policies are updated accordingly.
Customer Notification: If risks cannot be fully mitigated, affected customers are informed of the conflict's nature and source. Services or transactions proceed only with customer consent.
Non-Proceeding Clause: If no resolution or notification is feasible, the transaction will not proceed.
Resolution Process
Rules for Conflict Resolution:
- Between the Company and a Customer: The customer’s interests take precedence.
- Between Customers: Neither customer is favored.
Transaction details of one customer are never shared with another.
Customers are not encouraged to perform transactions benefiting others.
Access the Full Conflict of Interest Policy
You can access the full Conflict of Interest Policy here for detailed information, including all guidelines and procedures.
What This Means for You as a Venga User
By adhering to our Conflict of Interest Policy, we aim to:
• Safeguard your interests at all times.
• Provide unbiased and reliable services.
• Maintain Venga’s reputation as a trusted platform.
Questions or Concerns?
If you suspect a conflict of interest that could impact your experience on Venga, or if you’d like more information, don’t hesitate to reach out to our Customer Support team here. We’re here to ensure that your journey with Venga remains fair and transparent.