Length of Shared Parental Leave

Notice of Shared Parental Leave 

Payment during Shared Parental Leave

While on Shared Parental Leave

Keeping in Touch Days

Returning to Work after Shared Parental Leave

Paternity Leave 

Notification of Paternity Leave

Payment during Paternity Leave

Terms & Conditions while on Ordinary Paternity Leave

Paternity leave and Adoption 

Eligibility

Notice period

Leave start date

Proof of adoption

Terminology

Fathers and Partners

Maternity Leave

While on Maternity Leave

Keeping in Touch Days

Contract of Employment and Benefits

During ordinary and additional maternity leave

Maternity Pay

Enhanced Maternity Pay

Standard Maternity Pay

Miscellaneous Information

Maternity Leave and Bank Holiday 

Management Responsibility

Informal Remedy

Formal Procedure

Complaints made against the Chartered Institute for Securities & Investment by any of its members or customers must be notified to your Manager.  The Institute takes seriously any complaints, which are all logged and reviewed by the Directors.  Your manager will explain the specific procedures you should follow in the handling of complaints.

The Institute has not given any Trade Union recognition to negotiate terms and conditions of employment on behalf of staff.

However, all staff have a right to belong to a recognised independent Trade Union if they so wish, with reasonable time off during working hours to take part in union activities.  Such time off will be unpaid and must be agreed with your manager.

Introduction

The Grievance Procedure provides a mechanism for dealing with problems and concerns as quickly and as fairly as possible and at the right level within the Institute’s hierarchy.   It is in everyone’s best interest to ensure that these problems and concerns are not allowed to fester and develop into major problems. Where the Institute’s hierarchy, your position within it, or the person you have a grievance about, does not allow the procedures envisaged to be followed strictly, the Institute will endeavour to provide an alternative procedure allowing you to raise your grievance and for it to be resolved quickly and fairly.

Other policies

This policy can be used by any employee who wishes to raise a grievance.  However, there are certain sorts of grievance which are better dealt with under other policies (e.g. speak up procedure and harassment procedure).  The Institute may discuss with you alternative action in appropriate circumstances.

Confidentiality

The Institute will make every effort to keep the fact and circumstances of your grievance confidential. However circumstances outside of its control may make this not fully possible e.g. if there was a public incident which resulted in the grievance.  All staff involved in any grievance proceedings are required to keep the information confidential.  Any member of staff who is found to have breached this requirement may be subject to disciplinary proceedings.   

Right to be accompanied

You have a legal right to be accompanied by a colleague or trade union official at any formal grievance hearings and appeal hearings, if you wish.  Your choice of person to accompany you must be reasonable.  The Institute may ask you to choose an alternative person if your request is not reasonable, for example, because the person you choose has a conflict of interest.  That right will not extend to informal meetings unless you specifically request to be accompanied at an informal meeting and your request is considered reasonable by the Institute.

Informal procedure

If you have a grievance or compliant you should, wherever possible, start by talking it over with your manager.  You may be able to agree a solution informally between you.

Formal Procedure 

If the matter is serious and /or you wish to make a formal grievance you should inform the Institute of your grievance in writing.

You will be invited to attend a meeting to discuss your grievance as soon as possible and you have the right to be accompanied at this meeting.  You will be given an opportunity to explain your complaint.   After the meeting you will be notified in writing of the decision, and your right of appeal if you feel the grievance has not been satisfactorily resolved.

Temporary move to another department

In certain circumstances the Institute may decide to move you to work in another department while your grievance is being heard. The aim will be to remove a source of tension and / or ensure the smooth working of the department.  The Institute will aim to ensure that this is for as short a period as is necessary.

This is not a sanction against you, does not imply that any decision has been made, or that a case has been proved.

Appeal

If you wish to appeal against the decision, you must inform the Institute in writing within five working days of the grievance decision against which you are appealing.  It would be helpful if you set out the grounds in writing on which you are appealing.  You will be invited to a meeting and you have the right to be accompanied at that meeting.

A more senior manager will normally hear the appeal.   The person holding the appeal will review the evidence and make such enquiries as may seem appropriate.    You will be given an opportunity to state your case. 

After the meeting you will be notified in writing of the decision.  This is the final stage of the grievance procedure and the decision is final.

This policy is designed to help and encourage all employees to achieve and maintain standards of conduct, attendance and job performance.  It will apply to employees after the satisfactory completion of their probation period.  It may be amended from time to time. 

Dealing with matters informally

If your performance falls below the standards expected, this may be dealt with informally, where appropriate, by your manager or may be discussed in performance reviews to resolve problems.   Informal warnings are not part of the formal disciplinary procedure.   

Formal disciplinary procedure 

General Principles

• An investigation will normally be undertaken before any decision to hold a disciplinary meeting.
• For formal action you will be advised of the nature of the complaint against you, the possible consequences /sanction and will be given the opportunity to state your case before any decision is made at a disciplinary meeting.
• You will be provided, where appropriate, with written copies of evidence and relevant witness statements in advance of a disciplinary meeting.
• At all stages of the formal procedure you will have the right to be accompanied by a trade union representative, or work colleague. Your choice of person to accompany you must be reasonable.  The Institute may ask you to choose an alternative person if your request is not reasonable, for example, because the person you choose has a conflict of interest.  
• Your manager will normally conduct the disciplinary hearing (depending on the circumstances) and will be accompanied by a colleague (usually HR), plus there may be a  person who will take a written note of the meeting.
• Only in the case of gross misconduct will the employee be dismissed for a first breach of discipline, when the penalty will be dismissal without notice or payment in lieu of notice.
• You will have the right to appeal against any disciplinary action.
• The procedure may be implemented at any stage if your alleged misconduct warrants it
  

First stage of formal procedure - improvement note/ first written warning

This will normally be either:

● An improvement note for unsatisfactory performance if your performance does not meet acceptable standards. This will set out the performance problem, the improvement that is required, the timescale, any help that may be given and the right of appeal.  You will be advised that it constitutes the first stage of the formal procedure. A record of the improvement note will be kept for six months on your file, but will then be considered spent – subject to achieving and sustaining satisfactory performance or

● A first warning for misconduct if conduct does not meet acceptable standards. This will be in writing and set out the nature of the misconduct and the change in behaviour required and the right of appeal. The warning will also inform you that a final written warning may be considered if there is no sustained satisfactory improvement or change. A record of the warning will be kept on your file, but it will be disregarded for disciplinary purposes after six months.

Second stage - Final written warning

If the offence is sufficiently serious, or if there is further misconduct or a failure to improve performance during the currency of a prior warning, you may be given a final written warning. This will give details of the complaint, the improvement required and the timescale. It will also warn you that failure to improve may lead to dismissal (or some other action short of dismissal) and will refer to the right of appeal. A copy of this written warning will be kept on your file but will be disregarded for disciplinary purposes after 12 months subject to achieving and sustaining satisfactory conduct or performance.

Third stage - Dismissal or other sanction

If there is still further misconduct or failure to improve performance the final step in the procedure may be dismissal or some other action short of dismissal such as demotion or disciplinary suspension or transfer.

The decision to dismiss an employee can only be taken by the Chief Executive.

You will be provided in writing with the reasons for dismissal, the date on which your employment will terminate, and the right of appeal.

If some sanction short of dismissal is imposed, you will receive details of the complaint, a warning that dismissal could result if there is no satisfactory improvement, and advised of the right of appeal. A copy of the written warning will be kept on your file but will be disregarded for disciplinary purposes after 12 months subject to achievement and sustainment of satisfactory conduct or performance.

Gross misconduct
The following list provides some examples of offences which are normally regarded as gross misconduct:

• theft, fraud, deliberate falsification of records or unauthorised entry to computer records
• physical violence or bullying
• deliberate and serious damage to property
• misuse of the Institute’s property or name, or your property or that of your colleagues,  members or persons undertaking work on behalf of the Institute
• deliberately accessing internet sites containing pornographic, offensive or obscene material
• serious insubordination
• unlawful discrimination or harassment
• gross incompetence 
• bringing the organisation into disrepute
• serious incapability at work brought on by alcohol or illegal drugs
• causing loss, damage or injury through serious negligence
• a serious breach of health and safety rules
• a serious breach of confidence
• serious breaches of data protection
• conviction of a criminal offence detrimental to the interests of the Institute
• using your position in the Institute to act inappropriately, abusing the position of trust or accepting or offering bribes
  

This list is not intended to be exhaustive.

If, on completion of the investigation and disciplinary procedure, the Institute is satisfied that gross misconduct has occurred, the result will normally be summary dismissal without notice or payment in lieu of notice.

Appeals

If you wish to appeal against a disciplinary decision, you must do so in writing to HR within five working days of the disciplinary decision against which you are appealing.  

If you request an appeal please specify the grounds on which you are appealing.

HR will arrange for your appeal to be heard by someone more senior than the person who heard your disciplinary, and his/her decision is final.  At the appeal any disciplinary penalty imposed will be reviewed.

Suspension

In certain circumstances the Institute may decide to move you to work in another department or role during the period of the investigation.  The aim will be to remove a source of tension and / or ensure the smooth working of the department.  The Institute will aim to ensure that this is for as short a period as is necessary.

This is not a sanction against you, does not imply that any decision has been made, or that a case has been proved.

In certain circumstances the Institute may decide to suspend you from work as part of a disciplinary process.  Any such suspension will be on full pay.

The Institute will aim to ensure that you are suspended only for as long as is reasonably required to carry out any investigations and arrange a disciplinary hearing if necessary.

Suspension does not imply either your guilt or that the institute has made any decision as to whether a disciplinary sanction is appropriate in the circumstances.

The aim of this scheme is to recognise and reward employees where they have given that added extra, and for employees to receive the recognition within a short time scale.

Who is included in the scheme?

Members of the Executive Team & Country Heads are not eligible; all other employees including those on contract are eligible to receive a voucher.

How the scheme works

Anyone can nominate an employee if they feel the person has done something ‘above and beyond’ or been especially helpful. This could be within their department and across the Institute. Nominations, including information on the reason, should be passed to the employees’ Executive Team member and manager, and copied to HR. Usually, the Executive Team member or the employee’s line manager will inform the employee they have been awarded a voucher and the reason. The voucher or a cash amount, where it is not practical to give a voucher, for an appropriate amount is given to employees. It is normally one voucher per nomination. It is not expected that the same people will receive a voucher on a regular basis as the scheme aims to reward a wide number of employees and a range of achievements. HR keeps a list of the vouches issued, so the relevant voucher / cash amount can be given to the employee and the names of employees who have received a voucher appears in InCISIve.

Giving out vouchers - HR will arrange

• UK office – for the employee to receive a gift voucher (the Institute pays the tax and NI due on the voucher value via a PAYE settlement agreement with the HMRC)

• Other offices - for the employee to receive the cash amount with their salary.

You will be notified, via email, internal newsletters, the intranet or the staff notice boards of: -

• changes in general conditions of employment;
• vacancies (where appropriate);
• general news items
  

 It is important that you read the information as this will keep you up to date with things that are happening within the Institute.

Introduction

Working hours

Flexible Working Requests – Within normal office working hours

Formal flexible working requests

Managers’ Responsibilities

• Manage the scheme within their department, ensuring team members’ calendars reflect their working hours
• Ensure cover in the department. This may include multi – skilling so people can cover for team members (CISI is aware that in areas where there is only one member of employees or a very small team, there may not be cover before and after the core hours)
• Arrange routine meetings within core hours, unless the individuals in that specific group are all working a similar pattern

Exceptions

• Employees in certain jobs eg Reception, Facilities, Customer Support Centre, who work different shift rotas or hours, eg the Customer Support Centre is open from 8.30am to 5.30pm each day
• If there are attendance issues or you are subject to a disciplinary warning, you may be required to work 9-5 each day

Smoking, nor the use of electric cigarettes, is not permitted in any part of the Institute's offices. The Institute does not give time off for smoking breaks.

Introduction

The CISI’s dress code policy is designed to help us all present a consistent professional appearance to our customers and colleagues. Our appearance reflects on ourselves and the organisation. The goal of this guidance is to be sure that everyone understands how we collectively maintain a positive appearance, one expected of a professional body.

We trust everyone to dress as they like for work within the business casual guidelines set out below. If you're not sure whether an item of clothing is appropriate for work, err on the side of caution and wear something else. If you have questions about the dress code, ask your manager or buddy and they will be happy to help.

Who does this policy apply to?

This dress code policy applies to all staff that work or are contracted by the CISI.

Dress Code Policy:

• Employees are expected to dress in business casual attire in the office or working remotely unless the day’s tasks require otherwise.
• Employees must always present a clean, professional appearance. Everyone is expected to be well-groomed and wear clean clothing, free of holes, tears, or other signs of wear.
• Clothing, jewellery or body art with offensive or inappropriate designs or stamps are not allowed.
• Clothing should not be revealing.
• Clothing and grooming styles dictated by religion or ethnicity are exempt.
• For Dress Down Days (such as Charity Days), employees are free to wear casual clothing, including trainers. Casual clothing should still meet the above guidelines.
  

Remote Working:

With the increase in remote working employees should consider their appearance on a screen. Clothing visible on screen should meet the above guidance. For external meetings a neutral background is recommended for video calls and employees may find the CISI background useful in large multi-party meetings where this helps other participants know who you are representing.

Managers are expected to inform employees when they are not meeting the expected dress code. If informed of this, employees are expected to immediately correct the issue raised, and this may include having to leave work to change to appropriate attire.

Repeated occurrences may result in disciplinary action being taken, up to and including, termination of employment.

Professionals within financial services owe important duties to all their stakeholders including clients, market participants, their profession, professional bodies, regulators, colleagues as well as to wider society.

Where these duties are set out in law or regulation, members of the Chartered Institute for Securities and Investment (CISI) should comply with the requirements in both letter and spirit.

Members of CISI are also required to meet the standards set out within the CISI’s Principles, which impose an obligation on members to act at all times not only in compliance with the rules, but also to support the underlying purpose and values of the Institute.

Introduction

Statement of intent

Definitions

• Fraud:  A deliberate intent to acquire money or goods dishonestly through the falsification of records or documents. The deliberate changing of financial statements or other records by either; a member of the public, someone who works or is a volunteer for CISI. The criminal act is the attempt to deceive and attempted fraud is therefore treated as seriously as accomplished fraud
• Theft:   Dishonestly acquiring, suing or disposing of physical or intellectual property belonging to CISI or to individual members of the organisation.
• Misuse of equipment:  Deliberately misusing materials or equipment belonging to CISI.
• Abuse of position:   Exploiting a position of trust within the organisation.

Culture

Responsibilities

• Undertaking a regular review of the fraud risks associated with each of the key organisational objectives.
• Establishing an effective anti-fraud response plan, in proportion to the level of fraud risks identified.
• The design of an effective control environment to prevent fraud. This includes setting staff incentives which do not encourage inappropriate risk taking or dishonesty, and creating a culture in which staff feel supported to report suspicions/instances of fraud.
• Establishing appropriate mechanisms for:
  -reporting fraud risk issues
  -reporting significant incidents of fraud or attempted fraud to the Board of Director Trustees;
• Liaising with CISI’s appointed Auditors.
• Making sure that all staff are aware of CISI’s Anti-Fraud Policy and know what their responsibilities are in relation to combating fraud;
• Ensuring that appropriate anti-fraud training is made available to Trustees, staff and volunteers as required; and
• Ensuring that appropriate action is taken to minimise the risk of previous frauds occurring in future.

c) Senior Management Team:

• Ensuring that an adequate system of internal control exists within their areas of responsibility and that controls operate effectively;
• Ensuring that staff incentives are given in line with the CISI’s policies on incentivising staff, and in a manner which will not encourage inappropriate risk taking or forms of dishonesty;
• Creating an environment in which staff know that they will be supported when reporting suspicions or instances of fraud;
• Listening to, and taking seriously, staff members reports about suspicions or instances of fraud, and escalating these concerns if appropriate;
• Encouraging staff to attend anti-fraud training;
• Assessing the types of risk involved in the operations for which they are responsible;
• Reviewing the control systems for which they are responsible regularly;
• Ensuring that controls are being complied with and their systems continue to operate effectively; and
• Learning lessons, and, if necessary, implementing new controls to reduce the risk of similar fraud occurring where frauds have taken place.

• Acting with propriety in the use of CISI’s resources and the handling and use of funds whether they are involved with cash, receipts, payments or dealing with suppliers;
• Ensuring decisions are made objectively and impartially, without being influenced by bias, selfishness or external pressures.
• Conducting themselves with integrity, and adhering to the CISI’s principles of honesty, openness, transparency and fairness (set out in the Code of Conduct).
• Displaying the qualities expected of a good leader, which include being accountable for their actions and understanding the consequences of their actions and decisions.
• Attending anti-fraud training;
• Being alert to the possibility that unusual events or transactions could be indicators of fraud;
• Alerting their manager or other appropriate member of the CISI management team when they believe the opportunity for fraud exists e.g. because of poor procedures or lack of effective oversight (see the CISI’s Speak Up policy for further information about how to escalate a concern);
• Reporting details immediately to their manager or other appropriate member of the CISI management team if they suspect that a fraud has been committed or see any suspicious acts or events; and
• Cooperating fully with whoever is conducting internal checks or reviews or fraud investigations.

Detection and Investigation

• It facilitates a thorough investigation by experienced staff, and ensures the consistent application of policies and procedures designed to manage instances of fraud and corruption.
• When he/she is notified of a suspected irregularity, the CEO will instigate an investigation by appointing a designated officer, auditor or other adviser.
• The designated officer, auditor or other advisor will:
  -deal promptly with the matter
  -record evidence received in the course of the investigation
  -ensure the security and confidentiality of evidence
  -Work closely with senior managers of the CISI and other agencies, such as the Police and Courts to ensure that all issues are properly investigated and reported upon.
  -Ensure maximum recoveries are made on behalf of the CISI, and assist the senior managers to implement CISI’s disciplinary procedures where considered appropriate (referral to the Police will not prohibit or restrict action under the Disciplinary Procedure).
• Malicious accusations may result in disciplinary action against the reporter(s).

Training

When an individual agrees to buy goods or services from a supplier, including verbally, online or by email, then a contract is formed. CISI, as a body that supports ethical business practises, undertakes to honour all contracts that it enters legally. Therefore, all employees should understand the level they are authorised by the CISI to commit to spend on its behalf.

Procedure for commitments within your personal limit

Please seek guidance from your line manager to ensure that you understand how your team makes and records its financial commitments.

Before any commitment is made to a supplier, there must be an operational requirement and budget for the goods or services.  If these fall within your commitment limit, you may purchase the items. 

Procedure for commitments that are higher than your personal limit

If there is an operational requirement for you to purchase goods or services that cost more than your authorisation limit you will need to have the expenditure approved by an individual with a signing limit that is sufficient to encompass the total commitment.

The authorisation must take the form of a written note or email as it must be auditable – a conversation will not be sufficient.

Commitment limits cover five Bands A to F

Band A             Up to £125,000

Band B             Up to £20,000

Band C             Up to £10,000

Band D             Up to £5,000

Band E             Up to £1,000

Band F             Other amounts as specified

All other employees including those on a contract (including Apprentices) do not have a personal limit. 

List of employees with a Financial Commitment limit

A table listing those employees with a signing authority limit is available to view on the Intranet.  This will enable you to identify individual employees in your department that you can approach to approve items that fall outside of your personal signing limit.

Failure to comply with this policy or falsification of expenses will normally be regarded as misconduct and could result in disciplinary action.

Note: references to the UK include the Channel Islands Isle of Man and the Republic of Ireland. ‘Abroad’ refers to all other destinations.

EXPENSES

Principle

The objectives of the CISI expenses policy are;

1. to provide a safe and secure environment for the traveller
2. to ensure that traveller enjoys reasonable comfort
3. to ensure that the traveller is not financially disadvantaged
   

Of these objectives, the most important is providing safe and secure travel and accommodation. If there is a conflict between the more detailed financial guidance, such as not being able to find an appropriately safe and secure hotel within the budgeted guidelines, then the primary objective of ensuring the safety and security of the traveller, applies.

We will only allow employees who have been double vaccinated (plus any boosters) against Covid-19 to travel outside the UK on CISI business.

Hotels

In the UK, should an overnight stay be necessary, a 3 or 4 Star rated hotel should be booked (for bed & breakfast). If there are circumstances when staying at a higher grade hotel is necessary, this should first be discussed and agreed with your Director.

When travelling outside the UK, the same principles will apply, namely a reasonable hotel at a reasonable price that is commensurate with the Institute’s standards.  The actual hotel and the tariff should be agreed, in writing in advance, using the travel authorisation form, with the Director whose budget will bear the costs.

If, when travelling overseas and expecting to arrive at the hotel before 8am local time, a hotel room may be booked for the preceding overnight stay. The Institute is prepared to pay a modest “early arrival” fee which should be less than a full day’s costs if you arrive after 8am but before normal check-in time. Similarly, if you are catching a flight after 2pm and you need to be in the hotel, then Institute will pay an additional fee for “late check out”. Unless your flight is after 10pm, it should not be necessary to pay for an additional night’s stay.

Using private lodging

If an overnight stay is necessary and you choose to stay with friends or relatives, either in the UK or overseas, you will be eligible for £55 in vouchers per night (pro-rata in countries designated as mid or low gdp), which can be used to purchase a thank you gift, or alternatively you can take the host out for a dinner up to the value of £55 (or pro-rate in mid and low gdp countries).

You need to inform your Director of the name, address and your relationship to the person you stayed with in order to receive the vouchers.  Any tax and national insurance due on the vouchers will be paid by the Institute.   

Subsistence

Where CISI exams are sold at full price, eg UK and the employee is away overnight

CISI will reimburse employees for genuine reasonable expenses on the production of receipts, including:

• up to £11 for lunch
• up to £42 for dinner
• Where breakfast is not included with the hotel room, up to £16 for breakfast
  

Coffees / teas are reimbursed where purchased with a meal, and if purchased for a group eg meeting refreshments, in which case they should be purchased by the most senior CISI person at the meeting, and will be reimbursed via expenses on production of a receipt.  Casual, coffee for personal consumption are not reimbursable, their purchase would be covered by the daily subsistence allowance.

If an employee is working away from the office for a full day, eg manning a CISI stand at an exhibition, but an overnight stay is not required and they are not entertaining, CISI will reimburse the employee up to £15 for food and refreshments on the production of a receipt.

Where CISI exams are not sold at the full price

CISI will reimburse employees for genuine reasonable expenses on the production of receipts, including:

• up to £8 for lunch
• up to £27 for dinner
• Where breakfast is not included with the hotel room, up to £11 for breakfast
  

Coffees / teas are reimbursed where purchased with a meal, and if purchased for a group eg meeting refreshments, in which case they should be purchased by the most senior CISI person at the meeting, and will be reimbursed via expenses on production of a receipt.

In addition, incidental non-receipted expenses will be reimbursed up to £5 per night when staying away from home in the UK, and up to £10 per night when abroad.  This allowance is intended to cover personal incidental costs while away, which typically would include newspapers, coffees, etc and these can be claimed without receipts although the items should be detailed on the expense claims.  This allowance is not intended to fund ‘luxury’ items such as alcohol or tobacco nor strictly personal everyday items such as toiletries.  (Unchanged as these levels are in line with HMRC rules)

Daily allowance – when travelling outside of the UK

Alternatively, employee can claim a daily allowance, for each 24 hours they are in the country to cover subsistence, local transport and incidentals.  Receipts do not have to be produced but the total allowance paid for that day must not exceed the daily allowance. 

The cost of living varies across the global, and GDP is a useful, but blunt measure, especially as staff often visit capital cities where the costs are higher.

Where the average price of a hotel room and breakfast is over £135, eg Singapore, Europe, USA, and Hong Kong, a 24 hour daily allowance of £55 can be claimed.

Where the average price of a hotel room and breakfast is less than or equal to £135, eg Sri Lanka, India, Philippines, Indonesia, and Vietnam, a 24 hour daily allowance of £25 can be claimed.

Where the employee is not in the country for a 24 hour period, they should claim for meals taken and provide receipts. 

Hotel Minibars

The Institute is a charity and needs to be conscious of its public image. Therefore, the use of hotel minibars, especially for alcoholic consumption is not permitted. Exceptionally, reimbursement will be given for bottled water if the water supply is considered undrinkable.

Hotel Laundry

For trips over six days, it may be necessary to use the Hotel’s laundry facility which will be a valid expense. Staff should only send the minimum number of items to the laundry service which will allow them to have clean clothes for the remainder of their visit.  It should not normally be necessary for your suit to be pressed.

Entertaining

Entertaining should be pre-arranged with your Director and should be appropriate for the occasion and the status of the guest(s).  Care should be taken in choosing an appropriate venue to reflect the Institute’s values.  It would be unusual for a lunch to exceed £45 a head and dinner £65 (in UK).

All receipts must be attached to the expenses claim form which show the names and companies of persons being entertained, together with a brief explanation of the reason for the entertaining, eg briefing on Institute work, to discuss potential business, etc.

Please note that for these purposes entertaining includes taking UK based CISI staff to lunch.

The Institute has an agreement with the Inland Revenue that no tax liability will arise providing a customer or client is present.

Reclaiming Expenses

All expenses with receipts should be reclaimed using the Webexpenses system.  The reason for the claim should be clearly stated with for example the purpose of the meeting – lunch, business trip, together with brief details of the attendees.

Your claim will be authorised by your line manager / Director, and Finance will transfer the money in to your bank account.

Where a receipt is not available or has been lost, please add the reason.

Allowance for staff who attend formal events on CISI 's behalf

Subject to the agreement of your Director, an annual allowance of £300 will be paid to those staff who regularly travel and represent the Institute at formal events, ie ‘black tie’. This covers out of pocket expenses incurred, such as purchasing and wear and tear on formal dress and luggage.

To receive the allowance of £150, you need to have attended the equivalent of three or more events in the previous six months:

• A black tie event counts as one event
• A night away from home counts as half an event
• A night away from home for a black tie event counts as one and half events
  

If you have been reimbursed for the hire of a dinner suit or outfit, you will not qualify for the allowance for that event.

The allowance, which is subject to deductions for Tax and National Insurance, is paid twice a year.

Staff who do not regularly travel or represent the Institute at formal events, maybe eligible to receive an allowance at the time the allowance is paid if they have attended:
three events or equivalent within a 12 month period – an allowance of £150
six events or equivalent within a 12 month period – an allowance of £300

The benefit is paid to employees who are employed in the month the payment will be made and who are not in their notice period.

The allowance for employees in the international offices is:

India – 5,000 INR

Sri Lanka – 11,000 LKR

Dubai – 900 AED

TRAVEL

General

Staff are expected to use the most economical means of travel to and from business meetings, or events, and to find the best deals for fares and accommodation (if the trip involves an overnight stay). 

Trains

If a train journey is necessary, a standard class ticket should be purchased. If there is a valid reason to travel in a higher class this should be discussed and agreed, before booking, with your Director. A reason may be because the ticket includes free Wi-Fi or refreshments that otherwise would have incurred a cost. Staff are permitted to pay for the upgrade element themselves should they wish to take a higher class of travel that is outside policy.

The need to undertake business trips outside of London should first be discussed and agreed with your director prior to making any financial commitments. All travel and subsistence expenses must be supported with receipts - refer to claim procedures section below.

The Institute has a number of Oyster cards which may be used on London Transport. Using an Oyster card is much more cost and time effective.  These may be obtained from the CEO’s EA.  

Use of a private car

If the use of a private car is necessary and you are willing to use your own car for the journey, expenses will be reimbursed at the tax free rate of 45 pence a mile. A private car can also be used in preferred to a train, however if a train journey would have been practically possible, the lesser of either the equivalent standard class train fare, or the mileage allowance will be reimbursed. In all cases, prior approval for using your own car must be obtained.

Reimbursement may be claimed for return mileage (not exceeding 10,000 miles per annum) undertaken from CISI ’s London office to the business destination, or for the journey from home to destination whichever is the shorter.

Before using a private car for business purposes staff should ensure that their car insurance covers them for business use.

Please note that where applicable it has been agreed with Inland Revenue that the rates shown in this document will not give rise to a tax liability on the individual.

Taxis

Taxis should only be used when there is no other practical means of transport or if you are required to carry literature or presentation equipment and usually only for short journeys.  The company has an account with Dial-a-Cab and this facility can be used with the prior agreement of your Director, or you can use Uber which is a cheaper and often better option.   

In exceptional circumstances, if staff are required to work after 9.00 pm, you may, with the prior agreement of a Director book a taxi home/to train station.  If you live outside central London, then a local taxi from may be booked, if the fare is less than Dial-a-Cab’s quote for the journey.

Details of all journeys booked with Dial-a-Cab will appear on a monthly invoice and you will be required to state the reason why you used a taxi. Directors will countersign all invoices.

For any taxi journeys, other than via Dial-a-cab, a receipt will be required for the expense claim.  

It would not be normal to exceed the upper limit of £3.30 a mile unless there are exceptional circumstances.

Airport Taxi

Most airports in the Gulf and major financial centres, run a well organised, marshalled taxi rank. Sometimes it is necessary to specify your destination to a supervisor who ensures you travel in an approved and licensed taxi.  Always ensure that the meter is running and avoid negotiating a fare with the driver. This is the standard form of transport from the airport.

In some airports most notably, Colombo and Mumbai, the taxi provision is more haphazard and there is no central licensing arrangement.  In this case, you may be picked up by the hotel’s standard car service.

Many airports are connected with train services and it is often cheaper and faster to use them. 

Air travel

Any non-domestic travel over £250 must be approved in advance by the CEO.

Any domestic travel where the airfare is £250 or below can be approved by the line manager.

All long-haul flights have to be booked through Cultural Tours, with whom we have a corporate account (contact details below). Short-haul flights can continue to be booked via the Internet or direct with relevant airlines.

The following guidelines must be adhered to when making reservations:-

Economy Class:

Must be booked for all domestic flights and for flights to the Republic of Ireland

Should be booked for short-haul flights to most of Europe.

Premium Economy:

May be booked for flights between 4 and 8 hours long, but further upgrade is possible depending on:

-           Which country you are travelling to/from

-           The actual length of the flight

-           Whether you are travelling through the night

-           Whether you are travelling alone or accompanying someone

-           Whether you need extra baggage allowance

Business Class:

May be booked for all long-haul flights over 8 hours

Notes

Non-domestic includes the Republic of Ireland (domestic includes Northern Ireland and the Channel Islands)

Short-haul applies to a flying time of less than 4 hours

Long-haul applies to a flying time of 8 hours plus

An Authorisation for Travel (which is available on the Intranet under Personnel/Forms) should be completed and sent to the CEO for approval prior to confirmation of your booking.  

Contact Details:

Cultural Tours Limited

17 Hanover Square, London W1S 1BN

Direct Line: 44 20 3870 1324

Web: www.culturaltours.co.uk

Our contact: Tony Wu or Ray Zhu

Email: tony@culturaltours.co.uk or Ray@culturaltours.co.uk

Adding annual leave to a business trip and/or employee’s Partner/family accompanying them

It is perfectly acceptable for an individual who has been asked by their line manager to travel on CISI business, especially on a routine basis, to take leave whilst travelling and for them to either leave earlier for the destination or depart later. 

The principles that will apply in these situations are;

• There is a legitimate business need for that individual to travel to that destination at that time.
• The request to travel has originated from the individual’s line manager or has been signed off by the line manager. This is already standard policy.
• The individual has openly and explicitly declared to their line manager, in writing, that they are taking holiday, and/or bringing their family/partner, at least a week prior to departure.
• Any personal expenditure is for their own account.
• Any additional flight cost as a result of changing or extending the ticket is covered by the individual.  
• In some cases, particularly if extending the duration of a stay means that a visit then covers a Saturday night, the flight cost may reduce, in which case, the saving may be shared on an equal basis with the individual in the form of accommodation but will never be paid in cash.
• Partners/family may stay with an individual at their hotel whilst they are working, provided that any additional expenditure is paid for by the member of staff, most easily by not claiming back that portion of the expenditure incurred by the non-staff member.
• There already exists a scheme where individuals may stay at a relative or friend’s house and receive a cash benefit. This principle applies globally.
• The individual takes the risk that the business travel may be curtailed or cancelled at short notice and that they are responsible for any subsequent costs to arising from changes to the leave arrangements.
• If an individual is on holiday and is asked or it is agreed that a portion can legitimately be used for business, then the Institute will be pleased to pay subsistence and accommodation as required, but not flights.
  

Insurance

Whilst travelling on behalf of the Chartered Institute for Securities & Investment on a business trip, UK staff are insured (including medical cover) under the company’s general insurance policy.  Further details are available from the Chief Operating Officer. 

All employees must comply with the UK Bribery Act, which applies worldwide. 

Accepting bribes, gifts and inducements that might place an employee under an obligation is prohibited.  Employees must not offer anyone a bribe or inducement for any purpose whatsoever.

All gifts received by CISI staff in the performance of their duties (for example from external suppliers, for performing a service for a third party or as a result of business being placed) or because they are an employee of CISI, must be declared and HR informed.  Full details of the reason for the gift and who it is from need to be recorded. 

Items of low value or personalised/engraved (i.e. pens, calendars, mouse mats) may be kept after being declared.   

All other gifts should be given to HR.  You may be able to keep a gift where it has been given as a result of a personal connection or relationship, subject to the Chief Executive’s discretion.

Failure to abide by these rules will be considered as gross misconduct and the Institute’s disciplinary procedures will apply.