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ANNOTATED CODES OF ETHICS

The proper operation of the financial markets requires consumer confidence in those markets. That confidence, in turn, depends largely on the integrity of financial market professionals.

It is therefore crucial to show consumers that they can have confidence in the financial markets because there exist rigorous standards of practise that are applied and respected by industry members.

The disciplinary process and the rules of ethics do not merely target extreme cases of fraud or dishonesty. The are also intended to foster proper and exemplary conduct.

Thus, acting with integrity, loyalty and competence and in the interests of the client, understanding the products being offered, and offering advice and products that suit a client’s situation are ethical obligations that are not satisfied by merely filling out all the required forms.

Is compliance with the rules of ethics mandatory?

Absolutely!

Pursuant to the Act respecting the distribution of financial products and services, the Chambre de la sécurité financière, in its capacity as a self-regulatory organization, has the mission of protecting consumers by maintaining discipline and overseeing the training and ethics of its members.

Ethics consists of various standards, rules and obligations set out, in particular, in certain laws and regulations. All professionals who are members of the CSF must comply with them.

If these rules are breached, the syndic of the CSF may launch an inquiry, after which the professional may be required to appear before the Disciplinary Committee an d may be subject to penalties.

Compliance with the rules of ethics requires vigilance. Although it may seem to be in the interests of a client--whether to help him out or save him time--a representative must not disregard the rules of ethics, even if he is acting in good faith and has the best intentions.