Communicate openly
Act transparently and openly. Transparency is crucial, in part because of increasing demands from investors, regulators and supervisors. Open communication prevents misunderstandings and increases the trust of customers and other stakeholders in financial services.
DSI core principles in practice
What can you learn from this DSI-2018-05 ruling by the DSI Disciplinary Committee?
A certified manager of a financial company was instructed by the Board of Directors to execute a large transaction. There was discussion within the organization about this transaction because there were indications that confidential information may have been involved. Nevertheless, the Board of Directors decided to go ahead.
The manager was faced with a choice: should he follow the order or discuss the potential risks? He chose to execute the transaction, assuming that the Board had already made the ethical consideration.
The Disciplinary Committee ruled that the manager had his own responsibility in this. As a senior professional, he should have shared signals of a possible integrity risk and actively discussed it. If necessary, he should have called in compliance. By not doing so, he fell short of open and transparent communication.
Make integrity risks negotiable and communicate openly, even when it creates tension.
What does this mean to you?
Communicating openly means asking questions and sharing doubts, especially when decisions already seem set in stone. Do you see a potential integrity risk? Discuss it within your team or with compliance. By being open about concerns and dilemmas, you prevent risks from going undiscussed and you demonstrate professionalism and integrity.
DSI Core Principles
At DSI, ten core principles are central to the essence of our Code of Conduct. They offer financial professionals guidance on how to act with integrity on a daily basis and strengthen trust in the sector. Every DSI certified professional commits to these principles so that together we contribute to a transparent and honest financial sector.
