Ethics and Trust in the Investment Profession Flashcards
What is “ethics”?
The study of moral principles or of making good choices.
Ethics encompasses a set of moral principles and rules of conduct that provide guidance for our behavior.
What are “Moral Principles”?
Beliefs regarding what is “good”, “acceptable”, or “obligatory” behavior and what is “bad”, “unacceptable”, or “forbidden” behavior.
What is a “Code of Ethics”?
An established guide that communicates an organization’s values and overall expectations regarding member behavior.
A ‘code of ethics’ serves as a general guide for how community members should act.
What are ‘Standards of Conduct’?
Behaviors required by the group; established benchmarks that clarify or enhance the group’s code of ethics.
What is a “Profession”?
An occupational group that has specific education, expert knowledge, and a framework of practice and behavior that underpins community trust, respect, and recognition.
What are “Situational Influences”?
External factors such as environment or cultural elements that shape our behavior.
