Code of conduct study - United Kingdom

August 8, 2013

There have been multiple reports regarding malpractices in the management of company capital and monetary assets. Private entities are increasingly being placed in the limelight, especially since the enforcement of the United Kingdom Bribery Act.

In recent years the rash of banking scandals involving board-level incompetence and the growing appetite in bankers’ bonuses has caused a significant loss in public confidence. Earlier this year it was uncovered that household bank HSBC had been involved in money laundering to drug cartels and rogue states. It is often found that large corporate entities do not willingly involve themselves into criminal activities or corporate malpractice; however, a lack of measures in place to protect an entity from intentional or unintentional malpractice can lead to severe consequences. HSBC faced a £1.25 billion fine from regulators following the revelations.

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European codes of conduct
European codes of conduct

The best practices for codes are evolving. Companies that have never had a code are drafting them for the f...

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