What is Due Diligence and why does it matter to you?
Due Diligence is a legal requirement; all "relevant commercial organisations"; including publishers and societies, are required to conduct due diligence.
Publishers are required to conduct due diligence with respect to all intermediaries and "associated persons".
Publishers must be able to demonstrate that they have taken the necessary steps to prevent corrupt behaviour.
What does PSI's DDB Service offer agents?
The service offers peace of mind, allowing organisations to demonstrate compliance and protect their reputation.
The Due Diligence Bureau:
Reduces the workload involved in completing Due Diligence; by completing the process with PSI agents are reaching more than one publisher.
Helps agents and intermediaries to educate their staff of the appropriate levels of conduct.
Records and documents the assurances received from agents and intermediaries to ensure they are available to publishers when required.
Why have you been contacted by PSI about DDB?
As an agent, you've been contacted because a publisher using PSI's DDB service has provided your details on a list of agents that they either currently work with, or wish to work with in the future. You have been asked to:
watch a training video outlining the appropriate levels of conduct
complete a compliance questionnaire.
To assist your continued compliance with publisher and legal requirements you can use both the DDB Training Video and the DDB Training Guide as part of your training program for your own employees.
Publishers will also expect you to comply with the terms of the GDPR and any appropriate codes of conduct. To assist you further we have collected together the following information:
Complying with the GDPR
For further information on the GDPR, such as who is required to comply and what the requirements entail, follow the links below.
Article 29 Data Protection Working Party: Newsroom
UK’s Information Commissioner’s Office: Guide to the General Data Protection Regulation (GDPR)
Adhering to Publishers’ Codes of Conduct
Some publishers have their own codes of conduct with which they require you to comply as an agent. If this applies to you, you can find the codes of conduct on the relevant publishers' websites.
For example: Elsevier (RELX Group): Supplier Code of Conduct
STM endorsement of PSI's Due Diligence Bureau for compliance with anti-bribery and corruption legislation was announced in 2014. See here for the statement published by the STM.