Culture

SUPPORTING A VALUES-
BASED CULTURE

Ethics and Compliance

Ethics and Compliance

Compliance is foundational to our culture and a critical enabler of trust within our organization, with our stakeholders, and with the customers we serve.

IDEX’s compliance function is led by our Chief Compliance Officer who reports into the General Counsel. Our global compliance team proactively manages risks tied to international trade, anti-corruption, competition law, supply chain compliance, product compliance, and data privacy.

We are proud of our engagement and ownership of compliance at all levels of the organization and with our Board of Directors to identify trends and risks, implement mitigation strategies, and oversee the effectiveness of the compliance program.

Audit Committee
The Chief Compliance Officer meets with the Audit Committee quarterly to review the compliance team’s annual risk assessment process, the annual auditing program and progress, and management’s monitoring of the company’s compliance with the Code of Conduct.
Corporate Compliance Team
The IDEX corporate compliance team is organized into three primary verticals: trade compliance, anti-corruption compliance, and privacy. The corporate team also oversees IDEX’s Code of Conduct and Business Ethics and related training, and the Chief Compliance Officer has responsibility for the company’s ethics hotline. The team sets the overall strategic direction of the compliance program and adapts as needed to emerging regulations and risks and regularly conducts training sessions with employees regarding relevant compliance topics.
Business Unit Level Compliance
Each IDEX business has a compliance professional embedded at the local site. They leverage their business unit knowledge, along with access to resources and expectations maintained by the corporate compliance team, to drive a “bottom-up” approach to compliance at the point of impact. Our local compliance resources are the champions of the IDEX compliance program, and with their unique knowledge of their customers and industries served, they are able to assist the businesses they serve with emerging issues in real time.

HOTLINE AND THE CODE OF BUSINESS CONDUCT AND ETHICS

IDEX employees are united by our core values, and the ways in which we live those values are outlined in the Code of Business Conduct & Ethics. In 2023, we published a revised Code of Conduct, available in 13 languages. The updated Code enhanced areas like personal data protection, cybersecurity, and human rights, and was revised to make it more understandable and relevant in all the countries in which we operate. Every IDEX employee is trained on the Code upon hire and on an annual basis.

All employees have access to the IDEX ethics hotline to report any issues of non-compliance. Our hotline has been an integral part of our compliance program for over 15 years, providing employees, suppliers, customers, and the public with a confidential and anonymous channel to report concerns. Reports can be made in multiple languages and our reporting process complies with the EU Whistleblower Directive. The company investigates 100% of hotline cases and strictly prohibits retaliation of any kind for calling the hotline or participating in an investigation.

%
of complaints
into the hotline
are investigated

ANTI-CORRUPTION, ANTI-BRIBERY & FAIR COMPETITION

IDEX is committed to ethical business practices as outlined in our Anti-Corruption Policy Statement. We win business based on quality, service, pricing, and reliability, and not through unethical or fraudulent means. Bribery and unlawful payments are strictly prohibited for all employees, sales agents, and distributors. To ensure our third parties are acting ethically and in the best interest of our businesses, IDEX has implemented a stand-alone compliance process for all third-party sales intermediaries. This process mandates a background check and regularly-executed compliance agreements. If unethical behavior is detected, we take action, including the termination of the business relationship. The IDEX corporate compliance team conducts annual anti-corruption audits, using a risk-based approach across the enterprise.

SUPPLIER COMPLIANCE

Our suppliers are essential partners in our success. We conduct business with reputable third parties based on qualifications, service, cost competitiveness, and shared values. The Supplier Code of Conduct outlines our expectations for responsible business practices.

TRADE COMPLIANCE

As a multinational company with global supply chains and a diverse customer base, IDEX prioritizes trade compliance amid evolving international regulations. Our businesses maintain robust programs and practices to remain in compliance with applicable regulatory requirements. This includes screening exports and obtaining end-user statements when necessary and reviewing tariff codes, country of origin classifications, and free trade agreements.

The IDEX corporate compliance team routinely educates our businesses on emerging risks and changes in regulations and conducts annual trade compliance audits, using a risk-based approach across the enterprise to prevent retaliation for calling the hotline or participating in an investigation.

Political Contributions

IDEX does not use corporate funds or assets to make political contributions of any kind as governed by the Code of Business Conduct and Ethics and the IDEX Anti-Corruption Policy Statement. Employees and directors are trained on these policies upon hire and at least annually thereafter.

The Sidebar

A Legal Podcast

To effectively reach broader parts of the organization and to raise awareness of new and emerging regulatory changes, the Legal and Compliance Department introduced a video podcast series in 2024. The podcast offers short episodes on key legal and compliance topics that are most relevant to our businesses.

Hosted by the Chief Compliance Officer and featuring subject matter experts from around the company, this format compliments traditional training methods by making compliance guidance more relatable and digestible for our employees and business leaders.

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