Ethical Financial Services

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A. What is business ethics to you in the context of investment and financial services? How can it be instilled in professional practice?

Business ethics is a set of principles , rules of conduct and beliefs that provide guidance for our behaviour for different problems that may arise in a business environment . Since those priciples are beliefs of what is good and acceptable and what is perceived as unacceptable, different societies , cultures and individuals will have diverse opinions regarding ethical conduct. Such property makes ethics a vary complex and broad field which leads to different interpretations by individuals regarding actions that arise in an investment and financial services environment.
To act ethicaly, professionals need to go beyond what is legally required and to make …show more content…

One way is to have a code of ethics in the financial institution and make sure that the employees read an comply with it .However this might be not enough. Employees should review the code of ethics in regular basis in order to keep up to date with changes which might have occurred. Secondly , education regarding ethics plays a huge role in implementing ethics in practice. Financial institutions should make sure that regular training takes place regarding ethics behaviour . Sometimes it is not easy to change the way people judge and think , but education can help. Thirdly , it may be useful to build appropriate mechanisms which allow employees to discuss ethical dilemmas and report unethical behaviour .This addresses the issue when employees have situations in which they face difficulty in making the appropriate ethical decision . Lastly ,if the senior staff in an financial institution is careful in making ethical decision ,chances are that will affect other employees also .To sum up, firms need to ensure that ethical conduct is rewarded, and provide clear and practical guidance on how it can be

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