Business Ehtics - Citigroup Code of Conduct

Business Ethics on Citigroup

1. For Citigroup, it is both a code of ethics and code of conduct. Code of conduct and ethics help to guide their employees ‘along the road’ and maintain a certain standard set by the organisation. When all possible situations and circumstances an employee might face can be easily predicted, then a specific code of conduct would be appropriate. However, if it is hard to be predicted, then a code of ethics would be more appropriate. Therefore, the group believes that both code of conduct and ethics should always run hand in hand and none of them should be left out in any case.

Citigroup‘s code of conduct clearly specifies what their employees should or should not do. Part of the code is identified below. Employees should:

• Be committed to Citigroup’s clients by keeping the privacy of their information, treat them fairly, protect them from unfair business arrangements and practices, determine when fiduciary duties arise and keep in mind that a fiduciary has a legal duty to act in the best interests of its client, and to be aware and comply to complex laws designed to preserve competitions among enterprises.

• Be committed to each other by maintaining the privacy of Citigroup’s workforce, not discriminating and harassing fellow employees, and to ensure a safe and drug-free workplace.

• Be committed to Citigroup’s franchise by escalating any business concerns, cooperating fully in investigations, protecting all Citigroup’s Assets, complying with the Anti-Money Laundering activity and Citigroup’s code on the acceptance of gifts and entertainment, reporting suspicious activities, up keeping the integrity of data and information, avoiding conflicts of interest with Citigroup, maintaining professional and honest relationship with suppliers, not contributing to political activities at Citigroup’s premises, avoiding insider trading and personal investments, and to direct all media enquiries relating to Citigroup to the Global Communications and Public Affairs Office.

Below is the Citigroup‘s code of ethics which is more general. Thus, it does not explicitly states what they expects from employees but instead encourage the application of their ‘virtues’.

• “Citi necessarily relies on your commitment to exercise sound judgements to seek advice when appropriate and to adhere to the highest ethical standards.”

• “We must put our clients first, provide superior advice, products and services and always act with the highest level of integrity.”

• “We must respect the local culture and take an active role in the communities where we work and live, honour those who came before us and uphold the Citi legacy that has been entrusted to us.”

• “Citi