Ruling Disciplinary Committee | DSI 2013-02

False statement on application for registration

DSI Disciplinary Committee ruling dated 2013.

The DSI Disciplinary Committee ruled in a case in which a candidate investment adviser submitted a false employer’s statement when applying for (re)registration. The statement supposedly came from a former employer, but turned out to have been drawn up and signed by the candidate himself. Despite repeated requests from DSI for clarification, it was only after insistence that the candidate admitted that the statement was false.

Disciplinary Committee ruling

The Disciplinary Committee ruled that preparing and submitting a false employer’s statement was a serious violation of the Code of Conduct. Especially in the financial sector, trust in the integrity of professionals is of great importance. The committee deemed the complaint founded and imposed a fine of €1,250, with the verdict published anonymously.

Article DSI Code of Conduct applicable: 7.1.2, 7.1.4 and 7.1.5

Linkage to DSI Core Principles.

• Core principle 5: Comply with rules.
  Filing false documents is a serious violation of the rules and undermines trust in the industry.
• Core principle 10: Act honestly
  Honesty and integrity are essential to trust in financial professionals. Knowingly providing false information is incompatible with this.