Code of Conduct
ICO has a Code of Conduct which details the basic ethical principles that the Institute understands must be applied to ICO activities and business, as well as the professional conduct guidelines for employees, whether in relation to other employees and management staff, or as customers, suppliers and third parties.
In its different articles this regulation establishes the scope of application, as well as the principles governing ICO activity and the control mechanisms established to ensure they are complied with.
On 18 December 2015, the ICO General Board approved an amendment to the ICO Code of Conduct, primarily to incorporate the recent regulatory changes specified in Appendix 1 (especially the Law on Senior Executives and the Order of the Ministry of Finance of 31 July) and the reform of ICO's bylaws. As a result of these new regulations governing the General Board's bylaws, the Code of Ethics and Conduct now includes a general framework concerning directors' obligations.
Furthermore, the structure of the Code of Conduct has been modified to differentiate between ethical principles and general rules of conduct. It also makes reference to the internal regulations passed in recent years, such as the policy on institutional gifts, business expenses, the use of corporate credit cards and the classification of information.