Small Group Project Essay Example | Topics and Well Written Essays - 1000 words

Small Group Project - Essay Example The Ethics Review Committee under the chairmanship of the Compliance Officer is responsible for setting these ethical standards. After review of existing codes of conduct and related laws and regulations, the following codes of conduct applies to all management and employees of ECG, and are accountable for complying with this code of conduct: Adherence to applicable laws and regulations All employees in all ranks of the company must adhere to the legal requirements of the American government and countries that ECG conducts business. They must also adhere to the regulations of local authorities and commands that affect the company or its line of business. The laws and regulations that affect ECG are many; therefore, the company will provide guidelines on certain laws. The Compliance Officer will be available to answer any questions pertaining all laws that can affect the firm or its operations (Bacher, 2007). Conflict of interest This results when personal interests of employees and d irectors clash in any way with the interests of the firm. Despite having the right to engage in personal investments, enjoy private relationships and maintain normal business courteousness, employees, and management of ECG must not engage in activities or interests that may hinder their job responsibilities. Conflict of interest may also result when a member of staff pursues interests and actions that may negatively influence their performance. According to Hansen (2010), conflict of interest may also result when an employee, director or family members receive inappropriate gifts or benefits due to their relationship with the firm, whether the gain is from the firm or a client. Examples of conflict of interest are credit, guarantees for credit to employees and members of their families. Federal laws criminalize loans to executives and top management (Hansen, 2010). Working concurrently for a competitor, supplier or client amounts to a conflict of interest. Despite the fact that it i s not always easy to determine a conflict of interest, it is the firm’s policy to forbid such conflicts whenever feasible. Conflicts of interests may not be obvious in all circumstances; therefore, employees are advised to consult with the compliance officer whenever questions arise. Privacy All members of staff of all ranks at ECG must ensure the discretion of information entrusted to them by the firm, its clients, or suppliers except when admission is demanded by the firm, or required by laws and regulations or a court order. Classified information includes, but not confined to non-public information that may be utilized by opponents or injurious to the firm or its clients when revealed. Whenever possible, all members of staff must seek the guidance of the Compliance Officer if they believe that they have a lawful responsibility to divulge private information. Fair dealing Every member of staff in the company must strive to transact in a fair manner with the firm’s c lients, colleagues, and business competitors. No one should take undue advantage of the other through manipulation, misuse of privileged information, suppression, falsification of true facts and blackmail among other acts of unfair practice. Abusing trade secret information that was retrieved without owner’