Dealing Ethical Financial Sector in Workplace

Dealing ethical financial sector
workplace

Table of Content
1.0 Introduction............................................................................................................................3
2.0 Explaining ethical conduct in Australian business & the financial service industry.............3
3.0 Reason for which Banking Royal Commission happen........................................................4
4.0 Manner in which ethical behavior within the business is applied at the time of charging for
the services...................................................................................................................................5
5.0 Ways to make for ethical decisions in the business when charging for the services.............6
6.0 Conclusion.............................................................................................................................7
7.0 Recommendations..................................................................................................................7

Executive summary
The present report states the ethical standards that need to be followed by the company
operating their business in Australia. In order to stop the misconduct happen by employees or
director within the company, Banking Royal Commission has been established by Australian
government.
1.0 Introduction
Ethical conduct means as acting in a constant ways with what an individual and the
societies that typically think are the good values. Ethical behavior deemed to be good for the
business and includes demonstrating respect for the key moral principles that involves honesty,
equality, diversity, fairness, dignity and individual rights. The report highlights the ethical
conduct stated by Australian business and also presents the reason behind Banking Royal
Commission.
2.0 Explaining ethical conduct in Australian business & the financial service industry
In Australia, ethical conduct of business referred as company should treat its customers as
well must remain honest with regards to its business practices. Ethical code as per Australian
business focuses on showing respect for privacy and an individuality along with direct & honest
communication, negotiation etc (Kia, Halvorsen and Bartram, 2019). Ethical behavior of the
business revolves around being as upfront, presenting itself honestly and judging others on basis
of their skills, actions etc. based on their rank or the title.
Ethical conduct of Australian business intends for providing he guidance for the directors
and the employees on standards that the Australian expects in conducting their business
operations. This code has been mainly endorsed by Board of the directors and is applied to all
contractors, directors and the employees.
This ethical conduct of Australia some of the standards which needs to be followed the financial
service company that are as follows-
 They must be aware of the conflicts and must prefer customer interest as the top priority
in event of conflict. If conflict occurs between personal interest and the Ethical conduct
of Australian, then the firms should take corrective action for removing and managing
conflict in order to avoid the detriment to the Australian Ethical.