Integrity & Ethics
Promoting Professionalism
Promoting Professionalism

The CISI believes that integrity is a key component of professionalism which is defined as the effective combination of knowledge, skills and behaviour. In each of these areas the CISI has developed products and services where the high standards of integrity are embedded and regularly tested.

The events of the past few years provide a reminder of the importance of firms acting and demonstrating their honesty, openness, transparency and fairness in all their business activities.

Poor actions by single individuals can result in great costs to firms, both financially and through loss of reputation. Fostering an environment of trust, integrity and professionalism leads to greater confidence, ultimately strengthening a firm’s reputation in the market. We acknowledge that our Corporate Supporters and members overwhelmingly supported our drive for higher standards, our aim is for the CISI to be the professional body of choice for practitioners in financial services and for CISI membership to be the recognised hallmark of professionalism.

Knowledge  Behaviour  Skills  Integrity & Ethics Products





Knowledge

CISI Qualifications

In April 2013, the CISI became the first professional body to require candidates taking customer facing entry level examinations for wholesale/capital markets financial services activities to pass an integrity test.

Wholesale/capital markets practitioners in the UK now need to complete IntegrityMatters test, and pass with an A or B grade, prior to taking their CISI exams - Securities, Derivatives, Financial Derivatives and Commodity Derivatives.

We have introduced this initiative to ensure that UK exam candidates in the capital markets sector, who will be working directly with firms and clients, realise the importance of acting with integrity at all times, which is placed before, and above, profitability.

The CISI believes that the standard of integrity in the wholesale/capital markets sector needs to be at least equal to that of the retail sector. This will also provide the public with some tangible evidence which demonstrates that banks and other financial organisations really are changing their culture.

There are specific questions within CISI qualifications on integrity and ethics, including:




Behaviour

CISI Code of Conduct

Professionals within the securities and investment industry owe important duties to their clients, the market, the industry and society at large. Where these duties are set out in law, or in regulation, the professional must always comply with the requirements in an open and transparent manner.

Members of the CISI are required to meet the standards set out within the CISI’s Principles. These Principles, which are also known as the Lord George Principles in recognition of the contribution made to standards of integrity by the late Lord George FCSI(Hon), impose an obligation on members to act in a way beyond mere compliance and to support the underlying values of the Institute.

View the full code of conduct





Skills

CISI Membership

The CISI is committed to championing the highest standards of ethical behaviour and practice among our individual members and Corporate Supporters. We encourage members and supporters to adopt our Code of Conduct which is also known as the Lord George Principles and is shared with the Worshipful Company of International Bankers.

We require our Chartered members to take IntegrityMatters and pass at grade A. Chartered membership demonstrates personal commitment to continuing learning and high standards of integrity and ethical behaviour. To further highlight the importance of acting with integrity at all times, in April 2012 we introduced a new membership requirement for all Fellows (FCSI) and full Members (MCSI) to take and pass the Institute’s Integrity & Ethics Professional Refresher module or IntegrityMatters.

Part of a two-year plan, this requirement has now been extended to all membership grades (excluding Student members).