We are committed to maintaining the highest standards of corporate governance for the group. The directors of Irish Life and Permanent endorse the 2003 Combined Code on Corporate Governance. More information about corporate governance is included in our annual report and financial statements and these are available on Role of the Board page of our group website.
Complying with Regulation
Our group policy is to deal with regulatory authorities in an open and co-operative way.
Customer Protection Code
We are making any changes that are needed to our systems and procedures to make sure that we keep to the new code.
Advertising
We observe fully the code of advertising issued by the Advertising Standards Authority of Ireland.
Prevention of Fraud
Fraud is a matter of continuous concern for us and we take part in industry wide actions to try and combat it. These include yearly Anti-Money Laundering training courses for staff and advertising and awareness campaigns, for example, to alert bank customers to the danger of card skimming at ATM machines. After the introduction of Chip & PIN technology, new credit cards were sent to all permanent tsb customers.
Managing our CR Programme
The day-today management of our CR programme is the responsibility of our Group Head of Corporate Responsibility, Gerry Loughrey, who was appointed to this full-time position in April 2005. Gerry is supported by CR representatives in each of our main businesses and by our Group HR function. They all help to promote awareness of CR throughout the organisation.
We also have a Group CR Committee chaired by our General Manager – Investor Relations. This committee meets quarterly to review our CR performance and to consider the future direction of our CR programme.
A Group Environmental Committee has responsibility for managing our environmental programme.
Finally, the Board of Irish Life and Permanent receives regular updates on our CR activities and plans and has responsibility for setting overall policy and objectives in this area.