Ethics and Culture in Investment Management

ANDC

This workshop is designed to provoke and challenge current thinking. Every firm assumes it’s employees will act ethically but does the firms’ culture support that ethical behaviour? In trading specifically “Can a profitable trading business, by its nature ever be ethical”?. By reviewing and defining the meaning of ethics and its link to the firms culture, this facilitated and interactive workshops seeks to challenge participants to answer the question “How do I know I behaving in an ethical manner?”

Key Learning Objectives

• To understand the link between culture and ethics
• Start to recognise the different type of cultures commonly found in FS firms
• Be able to use case studies examples and apply internally to establish if behaviour is ethical or not

Any who are involved in trading or dealing within firms including those managing or leading teams in trading and dealing activities, to support their regulatory supervisory activities.  Any SMFs with responsibility for these areas or holding prescribed responsibilities for Certified individuals.

9.30        Definition of ethics and ethical behaviour

• Are culture and ethics distinct?

9.40        . If ethical behaviours  starts with culture – can you recognise your firms’ cultural profile from the Financial Services Profiles provided

• Discussion Is there a sub culture (different profile) within trading that is in conflict with overall firm culture?

10.10     . What we would expect in financial services code of ethics

10.20     How these are developed, introduced and discussed

• Exercise to link your code of ethics/values and how this links to the Conducts Rules (CoCON)

10.50     Coffee Break

11:00     Effective v ineffective application of codes and conundrums with financial services firms

• Review examples in trading of unethical behaviour (identified and published)

11.20     Case studies to high light further examples of;

• Non ethical behaviour in relation to market activity with discussion on what systems and controls are in place to stop this from happening In your firm (this case study builds with additional information being given the delegates as they work through the timeline)
• Non-financial (not related to market activity) example of poor ethical behaviour and discussion on what stops this happening in your firm, is it the same systems and controls and are they still likely to be effective in this scenario?

12.15     Tips for embedding a code of ethics in any culture

• Why do this – why is this important to our firm?  And individuals
• Does it fit with our culture and sub cultures within the firm?
• Is change required and what is the process for change
• Who owns this?

12.30     Round up and close

David Michael

David has over 20 years’ experience as a multi-asset broker (non-retail, institutional and professional only) ; and latterly training specialist.

Trade execution experience across Asian, US, and European markets in  multiple-asset classes. High and low touch  algorithmic trading. Experience  in multiple asset classes: equities & listed derivatives, structured notes, funds, futures, bonds, FX, and ETFs. Implemented trading responsibilities for MiFID II compliant transaction cost analysis (TCA), and “Best Execution” reporting in 2018 for mini prime broker.

Trainer at ICE (Intercontinental Exchange): commodity and interest rate derivatives. University of Bath (teach econometric master’s level students applied derivative trading). 

Academic: Series 3 derivatives trading license, MBA in Financial Risk. CISI Compliance & Risk level 4. LIBF Certificate in Mortgage and Protection. Assoc. Of Financial Professionals Certified Cash Manager. FCA CF30 while trading. 

IA Member £395.00 +VAT
Non-Member £545.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

Hybrid deliveries of our training allows participants on our courses the option to attend in-person here from our offices at Camomile Court, or you can attend virtually via MS Teams.

Please be advised a training course could change from hybrid delivery to solely virtual delivery. In such an event, we will inform delegates at least one week prior to the course delivery date.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.