Ruling Disciplinary Committee | DSI 2016-01

Fine for making false statement

DSI Disciplinary Committee ruling dated April 14, 2016

On April 14, 2016, the DSI Disciplinary Committee ruled on a case in which a candidate submitted a forged diploma (“CFA Level 1”) with his application for registration as an Asset Manager. Despite repeated requests from DSI for clarification, the Respondent maintained that he had obtained the diploma until he finally admitted that the certificate was forged.

Disciplinary Committee ruling

The Disciplinary Committee found that the Respondent’s actions seriously damaged trust in the financial industry. Submitting a forged document and not returning to this action in a timely manner violated the Code of Conduct. The committee deemed the complaint founded and imposed a fine of €1,250, with anonymized publication of the ruling.

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

DSI Core Principles of Application

• 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.