Professional & Ethical Good Business Conduct (WCIB)
In addition, to our professional obligations, we adhere to the Lord George' Principles of Good Business Conduct.
The core purpose of a financial firm is to promote global economic and social welfare by aggregating financial resources, converting them into specific services and products and delivering them in accordance with the mandates of their clients, customers and counterparties. Both the public good and the personal interest that stands behind this purpose and the capacity of providers to fulfil their mandates on a competitive, efficient and cost-effective basis can be substantially impaired, even frustrated, by dishonesty or by a lack of professional integrity, transparency and accountability. Accordingly, financial service firms and their officers and employees have both a collective and an individual commercial interest in the maintenance of high standards of behaviour and of their professional reputation.
These objectives cannot be attained, however, through mere compliance with rules and regulations. Whether the prevailing regulatory environment is prescriptive or principles-based, the interpretation and observation of such rules and regulations, if it is to be meaningful, and if it is to ensure confidence at all levels, must itself be underpinned by behaviour that is rooted in trust, honesty and integrity.
The principles set out below are founded upon and reflect the essential business values which are necessary to meet these objectives and, at the same time, support the function of regulatory compliance.