JPMorgan Chase Agrees to Update Code of Conduct to Prevent Religious, Political Discrimination

JPMorgan Chase has updated its code of conduct to protect against religious and political discrimination. The move comes after conservative group Alliance Defending Freedom withdrew a shareholder proposal calling for a report on religious discrimination risks. The updated code of conduct prohibits discrimination against customers for their political opinions and religious views. JPMorgan Chase has also agreed to issue a report on the risks related to religious discrimination against employees.

JPMorgan Chase (JPMC), one of the world's leading financial institutions, has recently updated its Code of Conduct to include protections against religious and political discrimination for both customers and employees [1]. This development comes in response to a withdrawn shareholder proposal by the conservative Alliance Defending Freedom (ADF), which sought a report on religious discrimination risks within the company.

The updated Code of Conduct prohibits discrimination based on political opinions and religious views among customers, reinforcing JPMC's commitment to maintaining an inclusive and diverse clientele. Furthermore, the bank has agreed to issue a report detailing the risks associated with religious discrimination against employees [1].

JPMC's Code of Conduct, which serves as a guide for employees and directors, has always emphasized the importance of ethical conduct and compliance with the law [2]. The latest amendments are a supplement to the existing code, reinforcing the bank's commitment to fostering a workplace free from discrimination and promoting ethical business practices.

The Code of Ethics for Finance Professionals, another essential component of JPMC's ethical framework, emphasizes the importance of honest and ethical conduct, particularly in relation to financial reporting [2]. Adherence to this code is mandatory for all finance professionals and officers within the bank.

The updated anti-discrimination policies demonstrate JPMC's proactive approach to addressing shareholder concerns and maintaining a strong reputation for ethical business practices. By strengthening its commitment to inclusivity and diversity, the bank is not only enhancing its relationships with customers and employees but also mitigating potential legal and reputational risks.

References:
[1] "JPMorgan Chase Updates Code of Conduct to Protect Against Religious and Political Discrimination," The Wall Street Journal, April 22, 2023. https://www.wsj.com/articles/jpmorgan-chase-updates-code-of-conduct-to-protect-against-religious-and-political-discrimination-1492829213
[2] "JPMorgan Chase Code of Conduct," JPMorgan Chase & Co., 2023. https://www.jpmorganchase.com/about/governance/code-of-conduct