Why study ethics?
Soundly operating financial services would be impossible without ethics. Customers’ very act of placing their assets in the hands of financial institutions and advisers requires immense trust.
An untrustworthy financial institution or company representative, like an untrustworthy medical practitioner or lawyer, finds few takers for the services offered.
Financial scandals cause reactions of bad publicity, fierce public debate, and shock and disappointment precisely because they involve individuals and institutions that we expect to be able to trust.
Philosophical elements of ethical decision-making are being widely discussed – even in the context of STEM skills. It is particularly relevant to the implementation of new systems and emerging technologies. The nature of workplaces and how people conduct routine tasks, including accessing financial services, are evolving rapidly.
As facilitators of a key part of people’s lives – managing their money – all organisations involved in Australia’s financial system play a crucial role in modelling ethical and trustworthy business conduct.
Our professionalism and ethics learning also aligns with continuing professional development requirements, including:
- Organisational competence under RG 104
- Advisers under RG 146
- FASEA CPD
- Responsible persons under RG 105 and CPS 520 Fit and proper.