Code of Professional Conduct
The promotion of a high professional standard amongst those working in the field of pension provision is one of the Institute’s primary objectives.
Council believes that membership of the Institute is a privilege carrying with it a responsibility to maintain professional conduct of the highest standards and thus uphold the reputation of the Institute.
There must also be protection for the interests of clients of those members of the Institute who provide pension and/or consultancy services.
For the guidance of members, Council has prepared the following code of professional conduct which represents those principles to which all members are expected to conform fully.
Members should at all times:
- maintain the highest standards of professional integrity in all their activities;
- comply with all relevant statutory and legal requirements;
- recognise other customs of practice, including codes of conduct of other professional bodies, affecting those with whom they have professional involvement;
- maintain strict confidentiality on information acquired in the course of their professional work except where proper consent to disclose has been received;
- neither use, nor appear to use, any such confidential information for their personal advantage or that of third parties;
- be mindful that the requirements of trustees, scheme members, employers or clients might possibly present conflicts of interest which must be handled with integrity;
- ensure that personal transactions/dealings do not conflict with this code of professional conduct or with the interest of trustees, employers or clients;
- ensure, when acting for a principal, that they have taken all reasonable steps to fully inform themselves and had regard to the principal’s best interests before making any recommendations, and observe their obligation to act impartially and disclose any constraints that could affect, or appear to affect their advice;
- not knowingly, by act or omission bring the good name of the Institute or its members into disrepute;
- observe this code of professional conduct and the Institute’s regulations as set out in its memorandum and Articles of Association and Bye-laws and encourage public awareness that members of the Institute are bound by this code of professional conduct;
- ensure that they do not lend their names or qualifications to any advertisement or public announcements which could bring the Institute into disrepute;
- unless they are Fellows or Associates, not publicise or represent their membership of the Institute in such a way as to imply the possession of a professional qualification.
Through the Secretary, the Institute’s advice on any matter of professional conduct may be sought by any member.
Council may, in the event of any complaint of unprofessional conduct against a member being upheld, take appropriate disciplinary action against that member as prescribed in the Memorandum and Articles of Association and Bye-laws.