Business Ethics
Last updated: June 2026
McMillan Maclean Limited is an independent, principal-led advisory practice providing strategic support to boards, investors, executive teams and growth platforms. Our work is grounded in professional judgement, discretion and a clear commitment to ethical business conduct.
The practice is led by its principal and works with selected specialist associates, advisers and professional partners where additional capability, subject-matter expertise or delivery support is appropriate to the client assignment. Anyone working with or on behalf of McMillan Maclean Limited is expected to act consistently with the standards set out on this page.
We advise on matters that may involve strategy, investment, governance, operating models, commercial decisions and organisational performance. In doing so, we recognise the importance of trust, confidentiality, independence and clear professional boundaries.
Our Principles
We conduct our business in accordance with the following principles:
acting with integrity, professionalism and sound judgement;
providing independent advice based on experience, evidence and considered analysis;
being clear about the scope of our role, our responsibilities and our limitations;
treating client information with care, discretion and confidentiality;
identifying and managing actual, potential or perceived conflicts of interest;
complying with applicable laws and regulations;
avoiding misleading, exaggerated or unsupported claims;
working within the limits of our capability, role and agreed scope; and
using specialist legal, financial, tax, technical or regulatory advisers where appropriate.
Conflicts of Interest
Before accepting an assignment, we consider whether any actual, potential or perceived conflict may arise. Where appropriate, we will discuss relevant conflict considerations with the client and agree how they should be managed.
We will not knowingly accept work where a material conflict would compromise our ability to act with independence, objectivity or integrity.
McMillan Maclean Limited may advise different organisations operating in adjacent or related markets. Where we do so, we maintain appropriate separation between engagements and do not share confidential client information between clients.
Where a specialist associate, adviser or professional partner supports an assignment, we consider relevant conflict and confidentiality matters appropriate to their role.
Confidentiality
Client confidentiality is central to our advisory model.
We do not ordinarily publicise client assignments, disclose client matters, or use client work for marketing purposes without prior consent. Information shared with us is treated as confidential and used only for the purpose of providing the agreed services, subject to any legal or regulatory obligations that may apply.
Our approach reflects the nature of the work we undertake: senior, sensitive, commercially important and often not suitable for public disclosure.
Specialist associates, advisers and professional partners supporting an assignment are expected to respect equivalent confidentiality obligations.
Anti-Bribery and Corruption
We do not offer, request, accept or facilitate bribes, improper payments, inducements or other benefits intended to influence business decisions.
We expect clients, suppliers, specialist associates, advisers and professional partners to act with equivalent integrity. Any concerns relating to bribery, corruption or improper influence will be treated seriously.
Fair Dealing
We aim to deal fairly with clients, prospective clients, suppliers, specialist associates, advisers and professional partners.
We do not misrepresent our experience, capabilities, capacity or independence. We are clear about where we can contribute and where specialist legal, financial, tax, technical, regulatory or other professional advice may be required from appropriately qualified advisers.
Responsible Communications
We seek to ensure that our public communications are accurate, proportionate and not misleading.
Where we comment on markets, sectors, strategy, infrastructure, energy transition or investment themes, such commentary is provided for general information only. It should not be treated as formal legal, financial, tax, investment, engineering, technical or regulatory advice.
Working With Others
McMillan Maclean Limited works with a trusted network of specialist associates, consultants, subject-matter experts and professional firms where this is appropriate to the nature and scale of an assignment.
This enables the practice to bring focused expertise to client matters while retaining a senior, principal-led advisory model. Any such arrangement is considered in the context of the agreed scope, client requirements, confidentiality obligations and potential conflicts of interest.
Our Standard
Our standard is straightforward: to act with discretion, independence and integrity in the interests of the assignment we have agreed to undertake.
We believe that good advisory work depends not only on experience and insight, but also on trust.