This Code sets out expectations for how we act, solve problems and make decisions. Our Code of Conduct is the ultimate guide for how we do things at Commonwealth Bank. It describes the standards of conduct we expect. The Code connects our Purpose, Values Expectations (with a ‘Should We?’ test) and key Group Policies to help us to deliver the right outcomes for all our stakeholders.
The Commonwealth Bank Group is committed to ensuring its policies and practices reflect the highest standard of corporate governance. The Board has adopted a comprehensive framework of Corporate Governance Guidelines, designed to properly balance performance and compliance.
Our Policy precludes the Group from making political donations. We may pay to attend events hosted by political parties with a business audience. We may be required to disclose such payments under relevant electoral laws.
Anti-bribery and corruption
We are committed to embedding a zero appetite culture towards bribery, corruption and facilitation payments across all areas and levels of the business.
Our Fraud Policy defines the Group’s fraud control principles, mandatory requirements and accountabilities. It clearly articulates that the Group does not tolerate fraud and is committed to promoting and maintaining a sound ethical culture.
Our Group-wide economics and trade sanctions policy acts as the basis for the development of appropriate internal procedures. We are committed to ensuring employees understand the importance of sanctions compliance.
Our remuneration principles have been designed to support a remuneration approach that aligns with our vision, values and strategy, is appropriate to changing market conditions, and seek to comply with regulatory requirements.
IB&M Customer Disclosures (including Global Markets and Commodities, Trade & Carbon)
The Commonwealth Bank of Australia (‘CBA’) operates globally through a number of CBA offices to engage in price quoting, order taking, transaction execution and other market making and risk management activities across the wholesale fixed income, currency and commodity (‘FICC’) markets.
Global Client Solutions (GCS) leads banking relationship management and the provision of transaction banking, risk management and capital solutions to our clients. The team’s purpose is to provide IB&M clients with solutions across the financing spectrum to support their strategic objectives.
The disclosures in this section convey the steps CBA will take in managing this process and providing positive customer outcomes.
Commonwealth Bank group has committed to a new global standard aimed at reducing tax evasion by sharing information about foreign tax residents with in Australia. This requires us to collect tax residency information from our customers.
We are committed to embedding a zero appetite culture towards the facilitation of tax evasion. Our Anti-Tax Evasion Facilitation Policy prohibits the facilitation of tax evasion and applies to all employees, directors and contractors of the bank. The principles outlined in our Policy also apply to third parties acting or performing services for or on behalf of the Group.
Our Environmental & Social Framework provides a reference point for our people and stakeholders on the minimum environmental and social standards we seek to abide by, and the targets and commitments we are working towards.
We recognise that many Aboriginal and Torres Strait Islander Australians face significant social and financial disadvantage. So while we aim to promote equality for all Australians, reconciliation is an important part or our investment in our community.
We are deepening our commitment to ensuring that as many people as possible, especially those at risk of financial exclusion, have access to affordable, appropriate financial resources and can make the most of them.