For more than a decade, CFA Society Philippines has actively promoted the importance of ethics and standards in the investment industry and, in July 2020, the Fund Managers Association of the Philippines (FMAP) adopted the CFA Institute Code of Ethics and Standards of Professional Conduct.
The FMAP aims to raise the standard of professional fund management in the Philippines and had previously adopted the Asset Manager Code of Professional Conduct.
Ethical standards across the fund management industry have a lot of similarities. CFA Society Philippines believes that finding common points and building on these really helped to forge this partnership. The association has similar codes and standards to the local society, and it was, therefore, a great fit for both organizations.
In addition, CFA Society Philippines was able to develop a strong relationship with the association because one of the FMAP advisors is part of the board of trustees of the local society and the organisations have the same corporate secretary. Indeed, there was great support from the board of FMAP to adopt the code and standards.
“The adoption of the code of ethics and standards of professional conduct is to provide guidance to all of our individual members in the performance of their duties and responsibilities as investment professionals,” Mr. Noel S. Reyes, President of Fund Managers Association of the Philippines.
“The adoption by the Fund Managers Association of the Philippines of the CFA Institute Code of Ethics and Standards of Professional Conduct highlights the dedication of the Philippine asset management industry in putting investors first. CFA Society Philippines will continue to support FMAP in this endeavour,” said Dr. Robert B Ramos, CFA, CAIA, CIPM, President and Chairman of CFA Society Philippines.
“This endeavour is by no means an overnight effort. Indeed, it is a robust testimonial of the decade long effort by CFA Society Philippines – both their volunteers and full-time staff that led to this impactful outcome. It took a few generations of society leaderships and the relentless patience of all the local unsung society heroes to execute all these external collaborations with the various local institutions. Kudos to all of them and look forward to more explosive milestones in this never-ending journey to make the world a better place,” said Mr. Alan Lok, CFA, Director for Ethics Training and Professional standards, CFA Institute.
“A culmination of more than ten years of effort and outreach, the adoption of CFA Institute Code of Ethics and Standards of Professional Conduct by FMAP stands as a testimony to the commitment of CFA Society Philippines to the CFA Institute mission and values. Big congratulations to our society leaders in Philippines, to our colleagues in APAC, and of course to all volunteers who have worked towards such accomplishment,” Dr. Stratos Pourzitakis, Director of Society Advocacy Engagement, Asia Pacific, CFA Institute.
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