Code of Conduct for IOOF Holdings

Running head: CODE OF CONDUCT FOR IOOF HOLDINGS
Code of Conduct for IOOF Holdings
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CODE OF CONDUCT FOR IOOF HOLDINGS1
Table of Contents
Introduction................................................................................................................................2
Body...........................................................................................................................................2
Conclusion..................................................................................................................................7
Reference List............................................................................................................................9

CODE OF CONDUCT FOR IOOF HOLDINGS2
Introduction
IOOF Holdings is a company that is mainly associated with various financial services in
terms of financial advisories, management of investment, superannuation as well as other
trusted services. There had been recent scandals in IOOF Holdings who want to compensate
as a result of faults of two most important officials of the Company with that of financial
investor as well as regulator. When IOOF Holdings appeared before Royal Commission
Banking, Australian organization who holds Authority over Prudential Regulation sought
orders from Court of Federal Laws in order to prevent those alleged officials of the Company,
senior executive Chris Kelaher, and George Venardos who is the Chairman of the
organization as well three other officials from appearing to super fund board because they
failed to act as per interest concerns of various fund members. Since there have been such
problems in the organization therefore the previous Code of Conduct did not work properly
therefore a new code of conduct requires to be framed. This report presents a Code of
Conduct that is being framed in order to prevent such misconduct from side of employees or
other senior executives for the organization. It is basically a set of rules that includes various
social norms, religious beliefs as well as rules and responsibilities of an individual required to
shoulder themselves (Steen, McGrath and Wong, 2016). Code of Conduct designed for a
Company is applicable to all employees in the organization that provides protection to
business laws and reminds the employees about its goals and objectives.
Body
A. Discrimination Grounds
It is important on part of IOOF Holdings to support as well as value diversity of culture in
workplace and create an environment that would be absolutely free on grounds of
discrimination (Taylor et al. 1924). This is because people face lack of positive

CODE OF CONDUCT FOR IOOF HOLDINGS3
motivation from the board of authority members as they are frequently subjected to
discrimination on the basis of skin-colour. White-skinned people enjoy many advantages
as well as benefits provided by the Company in terms of payment as well as appraisals
while people with black skinare looked down up on and they are not treated respectfully
with dignity in the organization. This kind of ill-treatment towards employees due to
differences in race and culture or sexual orientation is required to be prevented and care
must be taken so that they do not become subject to victim of bullying or feel isolated
(Kerr, 2014). Code of Conduct is being prepared so that the Company shows an ethical
attitude while behaving with other members in organization, prevent those kind of
behavioural attitude that might make other employees feel discriminated and harassed on
the basis of social origin as well as political opinion (Coetzee, 2006).
B. Exploitation Grounds
When parties are ready to sign agreements of confidentiality as a result of relationship
between employer and employee going bitter, the problem starts arising in IOOF
Holdings. These contractual agreements prevent various parties from discussing about
situations that revolve round an acrimonious departure and force untrustworthy as well as
incompetent employees to shift to other companies without letting the employers know
regarding their resignation. In addition, some well competent employees are forced to
move aside instead of allowing them to take an active part in decision making process and
these agreements debar them to learn about the problem, therefore these employees feel
exploited and feel like scapegoats inside the organization (Mees, 2017). There must be a
code of conduct to protect the rights of these employees that would prevent them from
getting exploited and feel demotivated. The Company is required to maintain transparent
attitude regarding every procedures, investments as well as agreements so that the
employees do not have a feel of being thrown-out or disappointed regarding any action or