UK Regulation & Professional Integrity (Investment Advice Diploma) Exam

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UK Regulation & Professional Integrity (Investment Advice Diploma)
Element 3 UK contract and trust legislation
On completion, the candidate will be able to:
3.1 understand specific legal concepts relevant to financial advice:
3.1.1 Contract, agency and capacity: legal persons – individuals,
personal representatives, trustees, companies, limited liability
3.1.2 Powers of attorney and managing the grantor’s affairs: wills,
intestacy, and administration of estates
3.1.3 Real property, personal property and joint ownership
3.1.4 Insolvency, receivership, and bankruptcy
12 © Chartered Institute for Securities & Investment Version 16
3.2 Main Types of Trust
3.2.1 understand in outline the main types of trust and their purpose
3.3 Creation of Trusts
3.3.1 apply knowledge of the creation and administration of trusts for life
policies and investments
Element 4 Integrity and Ethics in Professional Practice
On completion, the candidate will be able to:
4.1 Professional Ethics
4.1.1 understand core ethical theories, principles and values
4.1.2 understand the differences between ethical values, qualities and
behaviours in professional practice contrasted with unethical or
unprofessional practice
4.1.3 understand the impact of the following when applying an ethical
approach/acting with integrity within an organisational or team
• Self-interest
• The role of the agent
• The role of stakeholders
• The role of the group or team
4.1.4 understand evidence relating to the positive effects of ethical
approaches on corporate profitability and sustainability when
contrasted with the results of unethical or less ethical practices
which lack integrity
4.1.5 apply processes to:
• Create ethical awareness
• Assess ethical dilemmas
• Implement ethical decisions
UK Regulation and Professional Integrity
Version 16 © Chartered Institute for Securities & Investment 13
4.2 Codes of Ethics and Codes of Conduct
4.2.1 understand the relationship between ethical principles, the
development of regulatory standards and professional Codes of
4.2.2 understand how decisions and outcomes for the sector, firms,
advisers and consumers may be limited by reliance on rule-based
compliance, and how ethical behaviours and decision-making can
enhance these outcomes
4.2.3 apply the Chartered Institute for Securities & Investment’s Code of
Ethics to professional practice
4.3 understand key principles of professional integrity:
4.3.1 Clear, Impartial, Straightforward and Informed
4.3.2 Relationship between personal, corporate and societal values
4.3.3 Commitment to professional ideals and principles extending beyond
professional norms
4.4 apply behaviours that reflect professional integrity:
4.4.1 Commitment and capacity to work to accepted professional values
4.4.2 Ability to relate professional values to personally held values
4.4.3 Ability to give a coherent account of beliefs and actions
4.4.4 Strength of purpose and ability to act on the values
4.5 Professional Integrity and Ethics
4.5.1 understand the meaning of professional integrity and ethics within
financial services and how this is typically demonstrated in the
• Operation of financial markets and institutions
• Personal conduct of individuals
• Duties of fiduciaries and agents in financial relationships

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