Strategic report Governance Financial statements Other information CORPORATE GOVERNANCE REPORT CONTINUED The Board also considers the Report and Financial Statements to Further information on how the Group engages with and considers (i) training on conflict management has been delivered as be an important medium for communicating with the Company’s the views of colleagues can be found on page 32 of the Strategic relevant across the Group; (ii) documentation, ownership and shareholders. The Board aims to use the narrative sections to Report and in the Section 172 Statement on pages 130 to 133. accountability of conflicts has been improved; and (iii) the conflicts provide detailed reviews of the Group’s business and its future The Board believes in creating a culture of openness and register has been reviewed, updated and challenged by the development in an engaging way that is accessible to all. Similarly, colleagues are encouraged to share their views, ideas and work Conflicts Committee. the Company’s AGM is usually used as an opportunity to engage experiences. Similarly, colleagues are encouraged to raise any Governance framework directly with shareholders and share with them the Board’s review concerns in confidence, and the Group has a formal policy on The Board operates within a formal schedule of matters reserved, of performance and its vision for the future. The Board is aware whistleblowing to ensure colleagues who do speak out are with certain responsibilities being delegated to its permanent that the ongoing COVID-19 pandemic may result in restrictions on protected. Further information can be found on page 86 of the Committees. Details of matters reserved for the Board can be public gatherings being in place at the time of this year’s AGM and Audit Committee Report. found on page 73. The detailed responsibilities of the Board’s will consider all options as to what format this year’s AGM will take. Nomination, Audit, Risk and Remuneration Committees, along with Further details will be set out in the Notice of AGM that will be Conflicts of interest an overview of how they have discharged those responsibilities in circulated ahead of the meeting. The Board takes action to identify and manage any conflicts of the period under review, can be found in the Committee reports on Colleagues interest that arise to ensure that the interests of the Company’s pages 81 to 125. The Chair of each of the Committees reports to The Board believes that the Group’s people are key to its long-term shareholders as a whole are protected. the Board at each meeting on its activities since the previous success. It ensures that the Group’s people policies and practices All Directors have a duty to avoid situations that may give rise to meeting, and the Board keeps under review the terms of reference promote its values to support that success. Further information conflicts of interest. Directors are responsible for notifying the of each to ensure it is continuing to operate effectively. on the Group’s people strategy and the policies and procedures Chair and the Group Company Secretary as soon as they become Responsibility for matters that are not specifically reserved to the in place to achieve its aims, including the Group’s approach to aware of any actual or potential conflict. The Company’s Articles Board is delegated to the Chief Executive Officer. This includes investing in and rewarding its workforce, can be found on page 33 of Association permit the Board to consider and authorise any oversight of the Group’s performance, delivery against the of the Strategic Report. situations where a Director has an actual or potential conflict, strategy approved by the Board, and the effective management The Board also recognises the importance of engaging with the and a formal procedure is in place for considering, recording and, of day-to-day operations within the governance, risk and internal Group’s workforce for the long-term success of the business. if appropriate, authorising conflict situations. Conflicts of interest control frameworks it has developed. The Chief Executive Officer are included as a standing agenda item at each Board and has established the Group Executive Committee to assist him in The HL Colleague Forum was set up in January 2019 as a formal Committee meeting, and in determining whether to authorise an discharging these responsibilities. The Chief Executive Officer also workforce advisory panel to create a direct link between colleagues actual or potential conflict, the Board will take into account the receives reports from the Conflicts Committee about improving and the Board on matters of strategic importance. You can read specific circumstances and whether to impose conditions on the the Group’s framework for identifying, mitigating and protecting more on pages 34 and 35. Director in the interests of the Company. against conflicts of interest, and to ensure appropriate measures Further insight is obtained on colleague views through the Group’s There is a Conflicts Committee reporting into the CEO which is are in place to mitigate conflicts of interests between the Group’s annual colleague survey, and half yearly pulse surveys. In response responsible for ensuring there is appropriate governance and principal operating subsidiaries and between the Group and to the ongoing challenges of the COVID-19 pandemic, the views ownership around enhancements to the conflicts management its clients. of colleagues have been sought on a more regular basis via framework within the Group (other than the Company and its Details of the roles and responsibilities of the participants in the additional pulse surveys, in order to ensure the Board and senior Committees). In addition, conflict management is enhanced Company’s governance framework can be found on page 73. management are aware of the challenges colleagues are facing through the separation of investment decisions and broad and how working practices can be improved. membership of investment related oversight committees including external members as appropriate. During the period under review: 72 Hargreaves Lansdown Report and Financial Statements 2021