Transparency is investment professionals’ top ethics priority

Over nine in ten investment professionals would look for a firm which was robust in disclosing conflicts of interest when job-hunting, according to a report.

The UK arm of the CFA Institute, a global association of investment professionals, said its sixth annual ethics survey revealed a shift in the elements of its code of conduct to which investment professionals find it most difficult to adhere.

This year professionalism including knowledge of the law, independence and objectivity, misrepresentation and misconduct were investment professionals’ top priorities.

But in 2017 the greatest challenge for respondents was in the field of conflicts of interest including disclosure of conflicts, priority of transactions and referral fees.

A greater proportion of investment professionals found issues related to the integrity of capital markets challenging, rising from 11% to 16% year-on-year.

Will Goodhart, chief executive of CFA UK, said: “In last year’s survey, ahead of the implementation of MiFID II, it was not that surprising that our members were most concerned with issues around conflicts of interest.”

He added: “This year has seen the global stage dominated by wider discussions about professionalism and conduct and these issues have likewise drawn our members’ attention.”

©2018 funds europe

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