6
Concepts
0
Formulas
1
Decisions
3
Quiz Questions
6 concepts covered in this module.
Ethics: set of shared beliefs about what is good or acceptable behavior. Goes beyond legal requirements. A code of ethics communicates an organization's values.
Clients entrust assets to professionals, creating an asymmetric relationship. Trust is the foundation of the investment profession.
Professions are distinguished by: specialized knowledge, standards of practice, a code of ethics, accountability to a governing body, and service to society.
Ethical standards are often MORE stringent than legal standards. Legal ≠ ethical. Some actions are legal but unethical; some laws may be unjust.
Identify → Consider → Act → Reflect. Consider: who is affected? What are the relevant facts? What ethical principles apply? What are the alternatives?
Overconfidence, situational influences (loyalty, conformity, incrementalism), rationalization. Being aware of biases helps guard against ethical lapses.
1 decision frameworks to guide your analysis.
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Ethics Defined
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