Commonwealth Bank Australia Code of Conduct: Enforcement Analysis

This report delves into the code of conduct of Commonwealth Bank Australia, focusing on its enforcement mechanisms and implications for employees. It highlights that the code, enforced by a disciplinary board, applies to all employees and associates. The report emphasizes the bank's legal vetting of the code, its flexibility in outsourcing activities, and its intervention rights to meet regulatory obligations. It also covers the process for reporting suspected breaches and the consequences for employees found exploiting individuals or bank resources for personal gain. The importance of ex ante assessments and seeking guidance from superiors is stressed to ensure ethical conduct and compliance with the bank's policies. The document also includes a reference list of relevant academic articles.

Code Of Conduct For Commonwealth Bank Australia

Enforcement: The terms of the code of conduct is not a particular contract and a
disciplinary board comprising of the bankers enforces the code of conduct for the
Commonwealth Bank Australia. All the employees working with the bank and having
any sort of association with the business that are performed by the Commonwealth
Bank Australia are obliged by law to follow and abide by the distinct code of
conducts that are specified by the bank (Osemeke and Adegbite, 2016). The terms and
conditions that are mentioned within the code of conduct for the Commonwealth
Bank Australia are the particular written documents and have been carefully vetted by
the legal counsel of the bank regarding their enforceability and legal effects and also
addresses for the associated risks and the specific strategies for the mitigation of the
associated risks. The code of conduct for the Commonwealth Bank Australia is
flexible enough that allows the bank to retain the adequate level of control regarding
the issues of outsourcing the distinct activities including that of the performance
standards and also has the right with which the bank can intervene with requisite
measures regarding meeting the regulatory and legal obligations (Agwu, 2014).
If anyone suspects a banker at the Commonwealth Bank Australia regarding breaking
the rules mentioned in the code of conduct, then they are free to file a written
complaint against the suspected banker and the requisite action will be taken against
the banker from the end of the bank authority.
Exploitation: The distinct staffs and bankers associated with the operations of the
Commonwealth Bank Australia shall not exploit any individual for any kind of their
own personal gains. None of the employees of the Commonwealth Bank Australia are
allowed to take the opportunities of the of any properties that belongs to the bank,
until and unless the permission for the same is provided in written by the Chairman of
the Board and also the Chairman approves for the use of the property owned by the
bank (De Haan and Vlahu, 2016). Additionally, it is also important to note that the
employees of the Commonwealth Bank Australia must also provide for the written
disclosure to the Board regarding any financial or commercial transactions that have
been made by them that involves their personal interest or may have any kind of
conflict with the interest of the bank.
Any sort of manipulation, abuse of the privileged information regarding the entire
operation of the bank, or any sort of misinterpretation regarding the material facts that
can exploit for the functions of the bank are highly punishable from the end of the
bank upon being caught with the requisite evidences. In each and every case, the

employees associated with the Commonwealth Bank Australia must make an ex ante
assessment regarding the effect of their course of action in response to a given
situation and then perform accordingly (Effelsberg and Solga, 2015). If there are any
sort of doubt, then it will be both beneficial and preferable for the employees to seek
the help of their superiors or the concerned authority at the earliest possible.

Reference List
Osemeke, L. and Adegbite, E., 2016. Regulatory multiplicity and conflict: Towards a
combined code on corporate governance in Nigeria. Journal of business
ethics, 133(3), pp.431-451.
Agwu, M.E., 2014. Reputational risk impact of internal frauds on bank customers in
Nigeria. International Journal of Development and Management Review, 9(1),
pp.175-192.
De Haan, J. and Vlahu, R., 2016. Corporate governance of banks: A survey. Journal
of Economic Surveys, 30(2), pp.228-277.
Effelsberg, D. and Solga, M., 2015. Transformational leaders’ in-group versus out-
group orientation: Testing the link between leaders’ organizational identification, their
willingness to engage in unethical pro-organizational behavior, and follower-
perceived transformational leadership. Journal of Business Ethics, 126(4), pp.581-
590.