Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 296

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 296
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 Carpenters. Additionally, Mr. Rios sat on the Board of Pan Pacific
Bank where he was instrumental in closing its acquisition by California Bank of Commerce in December 2015.

We chose Mr. Rios
to serve as a member of our Board of Directors due to his extensive business experience, which makes him a valuable member of our Board
of Directors.

Corporate Governance

Code of Conduct and Ethics

Effective as of May 12,
2016, we adopted a Code of Conduct and Ethics that applies to, among other persons, our president or chief executive officer as well as
the individuals performing the functions of our chief financial officer, corporate secretary and controller. As adopted, our Code of Business
Conduct and Ethics sets forth written standards that are designed to deter wrongdoing and to promote:  

●honest and ethical conduct,
including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

●full, fair, accurate, timely,
and understandable disclosure in reports and documents that we file with, or submit to regulatory agencies, including the SEC;

●the prompt internal reporting
of violations of the Code of Conduct and Ethics to an appropriate person or persons identified in the Code of Conduct and Ethics; and

●accountability for adherence
to the Code of Conduct and Ethics.

Our Code of Conduct and
Ethics requires, among other things, that all of our personnel be afforded full access to our president or chief executive officer with
respect to any matter which may arise relating to the Code of Conduct and Ethics. Further, all of our personnel are to be afforded full
access to our Board of Directors if any such matter involves an alleged breach of the Code of Conduct and Ethics by our president or chief
executive officer.

In addition, our Code
of Conduct and Ethics emphasizes that all employees, and particularly managers and/or supervisors, have a responsibility for maintaining
financial integrity within our company, consistent with generally accepted accounting principles, and federal, provincial and state securities
laws. Any employee who becomes aware of any incidents involving financial or accounting manipulation or other irregularities, whether
by witnessing the incident or being told of it, must report it to his or her immediate supervisor or to our president or chief executive
officer. If the incident involves an alleged breach of the Code of Conduct and Ethics by our president or chief executive officer, the
incident must be reported to any member of our Board of Directors or use of a confidential and anonymous hotline phone number. Any failure
to report such