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ADMS 4502 Final > Lecture 2 > Flashcards

Lecture 2 Flashcards

1
Q

What are the two parts of unethical behavior?

A

Thinking process and deliberate action

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2
Q

4 Indicators of Ethical Behavior

A

Trust
Fairness
Efficiency
Competence

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3
Q

Ethical Issues in Matrix

A

Conflict of Interest
Fiduciary Responsibility
Power Asymmetry
Information Asymmetry
Moral Hazard
Social Responsibility

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4
Q

Moral Hazard

A

Risk that one party in a transaction has not entered into the transaction in good faith

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5
Q

Information Asymmetry

A

One party in a transaction has more superior information compared to another

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6
Q

Power Asymmetry

A

One party forces its opinion on another party due to level of authority

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7
Q

Fiduciary Responsibility

A

Legal duty to act solely in another party’s interests

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8
Q

Conflict of Interest

A

Situation where someone is supposed to act one way but has incentive to act in another way

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9
Q

4 Frameworks for Ethical Decision Making

A

Integrity, Honesty and Trust
Competence and Professionalism
Diligence
Respect

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10
Q

What is PIPEDA?

A

Personal Information Protection and Electronic Documents Act

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11
Q

Privacy

A

The right to control access to one’s personal and information about oneself

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12
Q

When was PIPEDA Act enforced?

A

Jan 1, 2004

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13
Q

PIPEDA Act

A

Must obtain consent before or at the time information is collected

Individual can challenge its accuracy

Can only be used for purposes for which it was collected

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14
Q

Under PIPEDA, if the organization is going to use personal information for any other purpose then the original reason collected, consent must NOT be obtained again.

True or False?

A

False, consent must be obtained again

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15
Q

Personal Information Includes….

A

Any factual or subjective information that is recorded or not recorded about an individual

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16
Q

Purpose of PIPEDA

A

Recognizes individuals right to privacy of their personal information

17
Q

Role of the Privacy Commissioner of Canada

A

Investigates complaints under privacy act and PIPEDA

Negotiate and find solutions

Make recommendations based on findings

18
Q

IBG YBG

A

I’ll be gone, you’ll be gone

19
Q

Agency Theory

A

Principle hires an agent to act on his or her behalf but the agent’s incentives aren’t aligned with the principal

20
Q

FINRA

A

Financial Industry Regulatory Authority

21
Q

Investment Policy Statement (IPS)

A

Documentation of client’s investment goals and compensation agreement

22
Q

Surrender Charges

A

Charges for withdrawing from an account

23
Q

Churning

A

Broker excessively buys and sells securities in client’s account to generate commissions

24
Q

Soft Dollars

A

Research and other products and services that are paid for using trading commissions.

ADMS 4502 Final (8 decks)

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