Governance and Ethics of AMP Limited

This report elaborates on the code of ethics, discrimination, exploitation, corruption, fraudulent behavior, whistleblower protection, and enforcement policies of AMP Limited in Australia.

Running head: GOVERNANCE AND ETHICS OF AMP LIMITED
Governance and Ethics of AMP Limited
Name of the student
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1GOVERNANCE AND ETHICS OF AMP LIMITED
Executive Summary
The primary purpose of this report is to elaborate on the code of the ethics in relation to AMP
Limited within Australia. The report also elucidates on discrimination, exploitation along
with corruption code of the company. The report also throws light on fraudulent behaviour,
whistle blower protection and the enforcement policies of AMP Limited of Australia.

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Table of Contents
Introduction................................................................................................................................3
Code of Conduct........................................................................................................................3
Discrimination........................................................................................................................3
Exploitation............................................................................................................................4
Corruption..............................................................................................................................5
Dishonest and Fraudulent Behaviour.....................................................................................5
Whistle blower Protections....................................................................................................6
Enforcement...........................................................................................................................7
Conclusion..................................................................................................................................8
References................................................................................................................................10

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Introduction
Corporate mechanisms refer to mechanisms along with processes with the help of
which the corporations are provided with direction. The governance structure helps in the
identification of responsibilities among the various participants within a corporation.
Business ethics refers to form of the applied ethics that helps in examining the ethical
problems which can arise within business environment. AMP Limited is the name of
financial services company within Australia that is instrumental in providing superannuation
along with investment products (Amp.com.au 2018). The company provides financial advice
and has headquarters in the region of Sydney in Australia. This report discusses about the
code of conduct in relation to the company AMP Limited in Australia. The report elaborates
on policies of the company pertaining to discrimination, exploitation and corruption. The
report also creates a code that can help the company in dealing with fraudulent behaviour. It
talks about the whistle blower protection and the enforcement practices of the company.
Code of Conduct
Discrimination
The anti-discrimination policy has been tailored in such a manner so that it can meet
the needs of the company. The employment policies of our company have been framed so
that it can prevent any kind of discrimination on the basis of caste, race, colour and gender in
the workplace. The anti-discrimination policy of AMP Limited can protect the employees and
the stakeholders from the harmful behaviours. The practices of the company can create a safe
workplace that can help the individuals in the organization in delivering effective
performance in the organization. The company provides the financial services to the
consumers without any kind of discrimination (Afr.com 2018). The superannuation and the
investment products of the company would be provided without any kind of discrimination.

4GOVERNANCE AND ETHICS OF AMP LIMITED
The company can take care of the fact that financial advice is provided to the investors in a
transparent manner so that it does not harm the investors. The company gives advice about
the home loans clearly that does not harm the consumers and the general public. The business
of the company would be conducted on the basis of highest ethical standard (Abc.net.au
2018). The company would take due care of the fact that they maintain complete confidence
of the consumers. The company would conduct the personal affairs and manage business
transaction in manner which would not draw any kind of criticism from public. The activities
of the company would not damage the reputation of the company and the company would
take care of the fact that it acts as financial services organization that is responsible.
Exploitation
The company will take due care of the fact that the investors of the company are not
exploited in any manner that can harm prestige of company. The company trains the frontline
personnel along with the financial advisors in a manner so that it does not lead to any kind of
financial exploitation for the people taking home loans and the insurance from the company.
The company develops internal escalation along with reporting protocol that can play an
important role in the prevention of any kind of exploitation taking place in the organization.
The company shall protect the client from being exploited and take appropriate measures in
the event of the safety of the client being jeopardized (Boatright 2017). The employees of the
company would be trained on the legal definitions that can help in prevention of any kind of
complication arising in the organization. In the event of news of the client being abused, the
company would take recourse to reporting that can help in offering protection to the clients.
The company have developed internal procedures that can help in safeguarding the client
from any kind of malpractice. The company have established a specialized unit that can help
in the aspect of monitoring activity. It can help in saving the vulnerable customers along with
clients of the company. The company has designed procedures so that it can achieve

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compliance with that of state privacy laws (Tricker and Tricker 2015). The company shall
develop strong working relationship with the customers and the clients that can help in the
aspect of encouraging communication in the company.
Corruption
The individuals involved in any kind of corrupt activity in AMP Limited shall be
fined or they can be sentenced to that of imprisonment. The company has zero-tolerance
approach in relation to bribery and the company acts in a fair manner that can help in
protecting the company from any kind of legal complication. The company acting with
integrity in all the business dealings can help in protecting the clients of the company. The
company upholds the laws that can help in countering the element of bribery along with
corruption. The management of the company shall discharge their duties and take due care of
the fact that the employees of the company are not involving in any kind of corrupt
malpractice that can threaten the company (Davies 2016). APM Limited will not offer gifts
that can help in providing advantage to a business. The employees of the company in the
event of non-compliance with policy will result in civil penalties that will vary on the basis of
the offence. The company takes care of the fact that the business activities of the company
are carried out with honesty and integrity so that it does not jeopardise the lives of the clients.
The company ensures that it maintains ethical standard across that of the global locations.
The company does not support any kind of corrupt business practice in any form. The
company conducts risk assessment at regular intervals that can help in preventing any kind of
corrupt practice in AMP Limited (Soltani and Maupetit 2015). The company eliminates the
corruption risks and assesses the vulnerability of the business units.
Dishonest and Fraudulent Behaviour
AMP Limited takes care of the fact that fraudulent behaviour is not practised by the
employees and the management of the company. The prevention of fraud is the primary area

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of concern of AMP Limited and the company takes care of the fact that any kind of dishonest
behaviour on the part of employees of the company are strictly punished so that it does not
injure the reputation of the company. The company shall take recourse to various kinds of
fraud detection solutions that can help in safeguarding the clients of the company. The
company enhances the information credibility by the integration of different kinds of
disparate data sources (García-Sánchez, Rodríguez-Domínguez and Frías-Aceituno 2015).
The company makes use of real time integration that can help in quickly detecting fraud. The
company indulges in behaviour monitoring of the individuals in the organisation that can help
in detecting of any kind of fraud taking place in the company. The company involves itself in
detecting the subtle patterns of the behaviour and predicts the future risks by making use of
advanced analytics (Crane and Matten 2016). The company integrates both big data along
with advanced analytics that can help in providing superior customer experience. The
company has centralized the fraud management operations that helps in preventing fraudulent
behaviour on the part of the company. The company takes the help of analytics innovation
and these helps in solving the issues related to the consumer behaviour. The company
engages in optimization of the fraud management process that helps in protecting the clients
of the company.
Whistle blower Protections
The company provides mechanism that helps in investigating into the corruption
taking place in the company. The company has implemented whistle blowing policy that can
helps in protecting the shareholders and the clients of the company (Allegrini, Ferramosca
and D'Onza 2017). The whistleblowing policies in the company establishes accessible
procedures for the employees that helps them in raising concerns. The employees of the
company are allowed to make report directly to local regulator that helps in offering the
company with that of whistle blower protection. The complaints that are personal to the

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individual are dealt with the help of grievance process of the company. The human resources
of the company has disciplinary process that helps in preventing corrupt practices of the
company. The company produces the annual reports on the aspect of whistle blowing and
updates the contracts from time to time that helps in preserving the prestige of the company.
The company involves itself in updating the training that is instrumental in reflecting the
refreshed policies of the company. The whistle blowing policies of the company mix with the
culture of the company that helps in creation of an environment where the challenging is held
to be normal. The effective arrangements are in place in the company that helps the
employees of the company in easily raising the concerns. The senior management of AMP
Limited fosters a culture that helps in welcoming discussion along with challenge (Louwers
et al. 2015). The firm implements the whistleblowing arrangements that are effective that can
help in the successful running of AMP Limited. The company has a documented
investigation process that helps in providing a consistent approach to those people who are
responsible for the operation of a firm. The company takes due care of the fact that
confidentiality of the whistle blower is protected and that the process of victimisation is
prevented across the whistleblowing arrangements (Saeidi et al. 2015). The company ensures
the fact that whistleblowing report is send annually to that of the governing body. The
company takes recourse to policies that is instrumental in offering protection against any kind
of victimisation.
Enforcement
AMP Limited carries out investigation along with examination that helps in providing
pragmatic assessment of that of the downside risks. The company works alongside with in-
house compliance along with legal professionals that helps them in reviewing the policies and
the procedures of the company. The reviewing of the procedures is undertaken by the
company that helps in the preparation of gap analysis of the company (Honoré, Munari and

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de La Potterie 2015). The clients of the company are advised in relation to anti-money
laundering that plays an important role in protecting the reputation of the company. There
occurs regulatory change management capabilities in the organisation that helps in closing
the gap between that of real-time regulatory requirement and that of policies of a firm. The
company takes care of the fact that critical compliance information in an organization is
synchronized with that of current rules that helps in taking care of the stakeholders of the
organization. The company has a rigorous compliance program that helps in the enforcing of
rules in the company. The policies of the company helps the compliance to shift from that of
reactive to the proactive posture that helps in delivering high value to firm (McCahery,
Sautner and Starks 2016). The company enforces a systemized process that can help in the
positioning of AMP Limited in Australia. The company takes care of the fact that the
compliance obligations are met by the company that helps in taking care of the investors and
the shareholders of the company. The company takes care of the fact that the firm is able to
capture and manage resolution pertaining to customer complaints that ensures the
profitability of the company (Davies 2016).
Conclusion
Corporate mechanism is indicative of the process which can help in providing
direction to an organisation. Governance structure of a company can identify responsibilities
in between different participants in a corporation. Business ethics is indicative of applied
ethics that proves to be useful for the examination of ethical problems in that of a business
environment. Anti-discrimination policies are made in a manner that is instrumental in
meeting needs of clients. Employment policies of AMP Limited prevents discrimination
based on race, colour along with gender. AMP Limited takes care that investors are not
exploited which can be instrumental in harming prestige of company. AMP Limited does not
involve in corrupt practices and the detractors have to undergo imprisonment in the event of

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being involved in any kind of wrong act. There is zero tolerance policy in the company that
makes the employees and the management of the company in acting in a fair manner. It
renders useful service and helps in protecting prestige of the company. The company takes
due care regarding the fact that fraudulent practices are not undertaken by the company. The
company devises various kinds of whistle blowing policies that protects clients of company.
AMP Limited works with the legal professionals that helps in the aspect of reviewing of
policies.

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References
Abc.net.au (2018). AMP could face criminal charges for misleading ASIC. [online] ABC
News. Available at: https://www.abc.net.au/news/2018-04-27/asic-fronts-hayne-royal-
commission/9702662 [Accessed 27 Dec. 2018].
Afr.com (2018). AMP admits second overcharging scandal. [online] Australian Financial
Review. Available at: https://www.afr.com/business/banking-and-finance/financial-services/
amp-admits-secondovercharging- scandal-20181127-h18fab [Accessed 27 Dec. 2018].
Allegrini, M., Ferramosca, S. and D'Onza, G., 2017. The internal auditing of corporate
governance, risk management and ethics: comparing banks with other
industries. INTERNATIONAL JOURNAL OF BUSINESS GOVERNANCE AND ETHICS.
Amp.com.au, F. (2018). AMP Personal Banking - Accounts, Super, Home Loans &
Insurance | AMP. [online] Amp.com.au. Available at: https://www.amp.com.au/ [Accessed
27 Dec. 2018].
Boatright, J.R., 2017. Ethics and corporate governance: Justifying the role of
shareholder. The Blackwell Guide to Business Ethics, pp.38-60.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Davies, A., 2016. Best practice in corporate governance: Building reputation and
sustainable success. Routledge.
Davies, A., 2016. Best practice in corporate governance: Building reputation and
sustainable success. Routledge.

11GOVERNANCE AND ETHICS OF AMP LIMITED
García-Sánchez, I.M., Rodríguez-Domínguez, L. and Frías-Aceituno, J.V., 2015. Board of
directors and ethics codes in different corporate governance systems. Journal of Business
Ethics, 131(3), pp.681-698.
Honoré, F., Munari, F. and de La Potterie, B.V.P., 2015. Corporate governance practices and
companies’ R&D intensity: Evidence from European countries. Research policy, 44(2),
pp.533-543.
Louwers, T.J., Ramsay, R.J., Sinason, D.H., Strawser, J.R. and Thibodeau, J.C.,
2015. Auditing & assurance services. McGraw-Hill Education.
McCahery, J.A., Sautner, Z. and Starks, L.T., 2016. Behind the scenes: The corporate
governance preferences of institutional investors. The Journal of Finance, 71(6), pp.2905-
2932.
Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate
social responsibility contribute to firm financial performance? The mediating role of
competitive advantage, reputation, and customer satisfaction. Journal of business
research, 68(2), pp.341-350.
Soltani, B. and Maupetit, C., 2015. Importance of core values of ethics, integrity and
accountability in the European corporate governance codes. Journal of Management &
Governance, 19(2), pp.259-284.
Tricker, R.B. and Tricker, R.I., 2015. Corporate governance: Principles, policies, and
practices. Oxford University Press, USA.