Those Darn Compliance Rules

When concerns with compliance override concerns for ethics, ethical behavior is diminished, and the goal of helping the client gets overridden by the aim of merely abiding by the rules so one is not punished. As Richard Breeden, the former Chairman of the SEC, reminds us, "It is not an adequate...

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Bibliographic Details
Published in:Journal of financial service professionals 2011-09, Vol.65 (5), p.22
Main Author: Duska, Ronald F
Format: Article
Language:English
Subjects:
Client relationships
Compliance
Ethics
Professional ethics
Regulation
Online Access:Get full text
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Summary:When concerns with compliance override concerns for ethics, ethical behavior is diminished, and the goal of helping the client gets overridden by the aim of merely abiding by the rules so one is not punished. As Richard Breeden, the former Chairman of the SEC, reminds us, "It is not an adequate ethical standard to aspire to get through the day without being indicted." Rules need to serve the ethical instead of ethics being thwarted by the rules. [PUBLICATION ABSTRACT]
ISSN:1537-1816
2381-8875