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Ethical practices instil a public trust in the fairness of financial markets and transactions, allowing them to function efficiently. Ethical practices by finance and investment professionals benefit all market participants and stakeholders and lead to increased investor confidence in global capital markets. The perspectives acquired in this subject should be useful to students in their chosen finance profession as this subject presents a framework for ethical conduct in the investment profession by focusing on the CFA Institute Code of Ethics and Standards of Professional Conduct. Citing and discussing examples of the financial scandals that have shaken public confidence in the ethics of financial market participants, this subject explains the importance of ethics in the operation of financial institutions and in the personal conduct of finance professionals.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Synthesise intellectual theories of ethics and apply these to an analysis and resolution of ethical dilemmas in finance;
- Critically evaluate ethical and professional conduct standards in finance through an examination of topical issues related to ethics in investment decisions, financial markets and financial services;
- Analyse ethical principles in relation to the financial theory of the firm including issues related to stakeholder theory, agency theory, corporate social responsibility and international businesses;
- Explain standards of professional conduct and evaluate practices and procedures designed to prevent violations of ethical and professional financial market trading practices.
High level of development:
- written and oral communication;
- analysis of the application of theory to practice;
- identification and evaluation of attitudes, actions and beliefs of others;
- working effectively within groups/teams;
- dynamically and effectively responding to changing situations and priorities;
- application of high ethical standards in professional practice and social interactions.
Last updated: 18 December 2020