The Financial Adviser Standards and Ethics Authority (FASEA) has recently provided a proposed Code of Ethics for financial advisers. Consultation on this Code closes on June 1st.
The draft includes details of the values and standards that will be applicable to advisers once the code is introduced.
According to the current draft, a relevant provider must always act to realise and promote the values of Trust, Competence, Honesty, Fairness and Diligence.
Further, a relevant provider must act, at all times and in all cases, in a manner that is demonstrably consistent with four principles, in the discharge of their professional duties.
- Ethical Behaviour
- Client Care
- Quality Process
- Professional Commitment
Each of these principles contain three "standards of behaviour", totalling 12 that should be complied with.
If you would like to view the draft document and potentially make a submission, click here