Ethics Flashcards
CPWA Cert Requirements
LOW
The 4 E’s
- experience - 5 year of experience in financial services or delivering services to HNW clients
- education - complete registered education program plus CE
- exam - pass cert exam
- ethics - acceptable regulatory history & uphold the institute code of professional responsibility.
Continuing ed requirements
MID
40 hours every 2 years ( includes 2 hours of ethics)
1 hr of CE every tow years must cover tax or regulation.
Code principle 1
MID
requires insitute professionals to “act in the best interest of the client”.
Code principle 8
requires intitute prof to “comply with legal and regulatory requirements to ones practice of his or her profession”
Code principle 2
MID
requires intitute prof to disclose services to be offered and privded, related charges and comp.
key word - DISCLOSE COMP
Code principal 3
MID
Requires intitute professionals to disclose conflicts of interest, actual potential or perceived. relevant financial relationships, direct or indrect and to take appropriate actuon to resolve or manage any such conflicts.
note - with unavoidable conflicts, I.P. shal notify and obrain informed written consent from those affected by conflict, shall manage conflic as to the mgmt of actual, ptential or perceived conflict, shall take all other and necessary mitigating activities.
Code principal 6
MID
requires intitute prof to maintain confidentiality of client information, however acquired, consisten with legal nad regulatory requirements and firm policies.
note - during change in employment, any disclosure of client information to any other person or entity outside I.P.s current firm, could violate principle 6.
Types of Discipline
HIGH
- Public censure
- Private censure - part of permanent record
- Suspend right to use marks
- Revoke right to use marks
Serious Crime
any felony, lesser crime, a necessary element as determiend by its common law definition involves misrepresentationm fraud, extortion, missappropriation or theft. and/or attempt or conspiracy to commit such crime or solicitation of another.
Answering disciplinary petition
filed no later than 30 days after the mailing date. required to request or waive right to participate ina. hearing before panel.
Conviction of a crime, appeals and possible reinstatement
member must notify intitute of conviction of serious crime within 60 days.
appeal from final order must be filed within 60 days of date of order
possible reinstated after suspenions requires petiton within 30 days of expiration.
Proper Use of Marks
HIGH
Basic rules - always use all CAPs. Always use registration symple (R) at end. Always use as adjective and not noun.
Use of Marks - Allowable adjectives
HIGH
designee, certificant, professional, practioner, consultant, advisor, analyst, holder
Preample to the Code - purpose
MID
The purpose of the Institute, as defined in its Articles of Incorporation and Bylaws, is to:
A. Broaden public understanding of investment consulting and wealth management;
B. Improve the professionalism of its certificants and members through educational and
certification programs;
C. Develop and encourage the practice of high standards of professional conduct; and D. Promote and protect the interests of the profession and the public it serves.
Preamble to the code - mission
MID
The Institute’s mission is to deliver premier investment consulting and wealth management credentials and world-class education.
