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CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS
This Code of Ethics for Senior Financial Officers has been adopted by the Board of Directors of Univision Communications Inc. (the "Company"). -The honesty, integrity and sound judgment of our Senior Financial Officers is fundamental to the reputation and success of the Company. While all employees, officers and directors are required to adhere to the Company's Code of Conduct, Ethical Standards and Business Practices, the professional and ethical conduct of our Senior Financial Officers is essential to the proper function and success of the Company as one of the country's leading media suppliers.
Accordingly, the Board has adopted this Code of Ethics as a set of guidelines pursuant to which our Senior Financial Officers should perform their duties. For the purposes of this Code, Senior Financial Officers mean the Chairman and Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer (if such position is filled by someone other than the Chief Financial Officer) and any person who performs a similar function. The specific executives who are subject to this Code from time to time will be designated by, and informed of such designation, by the Board.
In carrying out their duties, each Senior Financial Officer must:
- Act with honesty and integrity, including the ethical handling of any actual or apparent conflict of interest between his or her personal and professional relationships;
- Promote full, fair, accurate, timely and understandable disclosure in the reports and documents that the Company files with, or submits to, the Securities and Exchange Commission and in other public communications made by the Company;
- Encourage and reward professional integrity in all aspects of our financial organization and eliminate barriers to responsible behavior, such as coercion, fear of reprisal or alienation from the financial organization of the Company;
- Provide for the education of all members of the finance organization about federal, state and local laws, rules and regulations relevant to the performance of their duties;
- Comply and take all reasonable actions to cause the Company to comply with applicable governmental laws, rules, and regulations;
- Promptly report violations of this Code to the Audit Committee; and
- Promote ethical and honest behavior in the workplace.
Any request for a waiver of any provision of this Code must be in writing and addressed to the Audit Committee, which shall have the sole and absolute discretionary authority to approve any such waiver. Any waiver and the grounds for such waiver for a Senior Financial Officer shall be promptly disclosed through a filing on Form 8-K or by any other means approved by the Securities and Exchange Commission.
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