Ethics and Business Conduct
Meggitt's Ethics and Business Conduct Policy commits us to:
- conducting business fairly, impartially and in full compliance with applicable laws and regulations.
- integrity and honesty in all our business relationships internally and externally.
Our Ethics and Business Conduct Policy and Code of Conduct, overseen by the Ethics and Trade Compliance Committee, must be followed by all employees and advisers. All employees receive ethics and anti-corruption training and are required to undertake ethics training regularly.
As well as our Ethics and Business Conduct Policy and Code of Conduct, we have also implemented an Anti-Corruption Policy, laying out detailed guidance on our approach to bribery, gifts and entertainment, conflicts of interest, competition and anti-trust, money laundering, sales representatives, distributors, political contributions and lobbying activities.
As part of our commitment to combat all forms of corruption, we have adopted a Group-wide approach to dealing with intermediaries, specifically sales representatives and distributors. The company has put in place internal policies that address the hiring and management of those third party relationships. The policies themselves and the protocol documents that must be used in all cases, require:
- Full vetting of all sales representatives and distributors through an independent organisation such as TRACE International.
- A questionnaire to be completed by a senior executive at the Group site appointing the intermediary; the questionnaire details all pertinent information justifying the choice of that particular intermediary.
- A standard form agreement with a maximum term of two years for sales representatives and three years for distributors. The agreements also cap the amount of commissions or discounts.
- Legal review for all agreements.
- Periodic audit by internal audit and external resources; and
- Training, provided to all Group employees on preventing corruption.
Our standards and associations
Meggitt has taken a leadership position within industry organizations to promote anti-corruption best practices.
Meggitt PLC and its subsidiary companies have adopted the Common Industry Standards of the Aerospace & Defence Industries Association of Europe (https://www.adsgroup.org.uk).
Meggitt is a member of the International Forum on Business Ethical Conduct (IFBEC) and serves on its steering committee. IFBEC promotes and fosters the development of global, industry-wide ethical standards for companies active in aerospace and defence business. http://www.ifbec.info
Meggitt is a corporate member of Trace International, a provider of anti-bribery compliance solutions. All Meggitt’s intermediaries (sales representatives and distributors) undergo background checks by Trace. http://www.traceinternational.org
|Ethics and business conduct policy|
|Code of conduct|
Guiding your way
Meggitt's Ethics and Business Conduct Guide in seven languages