Ruling Disciplinary Committee | DSI 2005-02

DSI Disciplinary Committee ruling dated July 4, 2005.

The DSI Disciplinary Committee ruled in a case against a Securities Trader who had been summarily dismissed by his former employer for repeatedly exceeding agreed position limits. DSI claimed that this conduct violated the Code of Conduct, in particular Articles 7.1.1 and 7.1.2, and requested a measure. The Committee noted that this was an internal violation in which the Respondent directly self-corrected and reported the limit violation. There was no covert or structurally reprehensible conduct and the violation was not directly related to the integrity standards of the Code of Conduct.

Disciplinary Committee ruling

The Disciplinary Committee dismissed DSI’s complaint and ruled that it cannot be said that the defendant did not act with integrity, professional competence or trustworthiness.

Articles DSI Code of Conduct applicable: 7.1.1, 7.1.2

Linkage to DSI Core Principles.

• Core principle 1: Take responsibility.
  Respondent took responsibility by immediately correcting and reporting the error.
• Core principle 3: Act carefully
  Diligence in complying with internal agreements is important, but not every violation of these directly affects the core values of integrity according to the DSI Code of Conduct.