Ethical Standards

A Member shall strive to promote the highest ethical standards in relation to the conduct of his own and his client's affairs by adhering to the provisions of this Code and to relevant legislation. Members are reminded that under laws applying to them, they may be under an obligation to assist their national authorities in the suppression of acts prohibited by the laws of their jurisdiction.

Confidentiality

A Member shall not disclose information about a client or his affairs without authority from that client unless required to do so by applicable law.

Integrity

A Member shall observe high standards of honesty and fairness in all dealings and shall not conduct himself in any manner which is likely to bring either himself or the Institute into disrepute.

Skill, Care and Diligence

A Member shall act in a timely manner and with appropriate skill, care and diligence in the conduct of client affairs.

Information about Clients

A Member shall seek from clients any relevant information about their particular circumstances and objectives that the Member might reasonably be expected to obtain to enable him to fulfill his professional obligations.

Information for Clients

A Member shall take appropriate steps to provide a client with information about the client’s affairs that the client reasonably requires.

Conflict of Interest

A Member should seek to avoid any conflict of interest arising as between a Member and a client or as between clients. A Member should not unfairly place his own commercial interests above those of his clients. The Offshore Financial Intermediary

Client Assets

Where a Member or his Organization is responsible for assets that belong to a client, the Member should arrange for appropriate protection for them by way of segregation and identification, or otherwise in accordance with the terms of the responsibility that the Member has accepted.

Professional Practice

A Member should treat professional colleagues with the utmost courtesy and fairness and observe any relevant legislation, code or rules applicable to his business.

Financial Resources

Where a Member has appropriate responsibilities, he should ensure that he maintains adequate financial resources or otherwise makes adequate provision to meet his business commitments.

Internal Organization

Where a Member has appropriate responsibilities, he should organize his internal business affairs in a responsible manner, keeping appropriate records, and where relevant should ensure that staff are adequately trained and supervised.

Relations with Regulators

A Member should deal with any regulatory authority to which he is subject in an open and cooperative manner so as fully to comply with any relevant legislation.