What duties and obligations does a representative owe…
The credibility of the financial products and services industry relies primarily on the public’s trust in the industry. This is why the rules of ethics contain a series of duties and obligations that every CSF member must respect in order to maintain that trust. Thus, whether you practise in the area of securities, insurance or financial planning, the basic rules are the same as regards the public.
In brief, every representative must:
- Practise with integrity;
- Be competent and available, and provide a high quality service;
- Act with dignity and respect;
- Comply with applicable legislative and regulatory requirements.
- When a representative solicits a client or wishes to compete with a competitor, the methods used must be fair.
- A representative must not disparage or discredit the products and services of his colleagues or even of firms, brokers, insurers and financial institutions.
- A representative may compare products to properly differentiate them and recommend one rather than another but must not directly attack the professional competence of an individual or disparage an insurer, a firm or a broker.
- Moreover, a representative must abstain from making comments, in any form, that are false, inaccurate or incomplete.
In the exercise of his professional activities, a representative must act honestly and diligently. The image of the profession depends on his doing so. The members of the CSF play an important role, and their conduct must serve the positive development of the profession and inspire confidence in the public. The syndic of the CSF plays an important role in maintaining the credibility of the profession. He ensures respect for ethical rules and investigates where necessary.