Ethical standards and conduct

AIST members set the standards for conduct and ethical behavior in the superannuation industry.
Our Code of Conduct and Ethics applies to everyone and is determined by the AIST Board.

Conduct and ethics for all members

• Act in accordance with the law
• Act ethically and with integrity
• Demonstrate a commitment to profit-to-member values
• Demonstrate a commitment to the representative trustee system
• Act in accordance with your fund's core values
• Act in the best interests of your fund's members
  and beneficiaries
• Deal fairly, objectively, and impartially with all stakeholders, members and beneficiaries
• Complete an annual program of professional development
• Promote and support these principles through leadership within their fund, the wider industry and community

Additional duties for trustee directors

• Perform duties with prudence, diligence and in good faith
• Comply with the expectations set out in your fund's governance charter, terms of reference and regulatory requirements
• Comply with the relevant AIST governance standards
• Ensure that your fund promotes equity and transparency in all transactions
• Actively contribute to your fund's governance processes and the functions outlined in your fund's governance charter
• Exercise independence of mind in making decisions, and in accordance with the legal and regulatory framework
• Ensure that you do not receive inappropriate financial benefit or receive any other inappropriate material benefit for yourself, family or friends as a consequence of their role
• Ensure that you make decisions on merit and at arm's length when awarding contracts, recommending individuals for reward or benefits
• Disclose any private or other interests that may impact on your role as a fiduciary and take all reasonable steps to manage any relevant conflicts of interest or duty that arise
• Comply with your duty not to misuse information or your position
• Be transparent about your actions and decisions and give reasons for decisions, unless a member's privacy or the greater public good requires that confidentiality be maintained
• Be accountable for your actions and decisions to the relevant authority and to your members
• Help build a culture of robust discussion, honesty and mutual respect at board meetings
• Respect the confidentiality of board discussions
• Speak with a united voice outside of the boardroom, in support of formal board decisions
• Actively and honestly participate in board performance assessments
• Educate and support new board members