Corporate governance is about promoting fairness, transparency and accountability by setting out the rights and responsibilities of the Board, management and shareholders.
Includes our conflicts of interest policy as well, rules around insider trading, market disclosure, privacy, hedging and many other core operating principles and policies.
The Westpac Group aims to prevent, detect and not knowingly facilitate money laundering and terrorism financing. Westpac does this to protect the Group's reputation, to comply with relevant laws and to be a good corporate citizen.
Westpac Group aims to ensure compliance with Economic and Trade Sanctions not simply because we are required to but because it is the right thing to do for our organisation and for our customers.
Effective risk management requires taking an integrated and balanced approach to risk and reward, and helps us to both optimise financial growth opportunities and mitigate potential loss or damage.
Westpac's Board is guided by several policies and various legislative requirements, including our Corporate Governance Statement, the Australian Shareholders Association, the Board Audit committee, the company's constitution as well as other governing edicts.
Our products and services are designed to ensure all our customers have equal access.
The Westpac Group is committed to comply with the reporting obligations under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) legislation. Both relate to international tax transparency and the exchange of financial account information.