What should characterize the professional conduct of individual members of a pension plan’s governing body? The CFA Institute Centre for Financial Market Integrity has developed a Code of Conduct for those who govern pension plans. Rather than describing the specific duties or detailed functions of a trustee, the proposed responsibilities address the primary ethical principles that a member of the governing body should follow when serving the pension fund.
The conduct of those who govern pension plans significantly impacts the lives of millions of people around the world who are dependent on pensions for their retirement income. The Centre believes that it is critical that pension plans (also known throughout the world as systems, schemes, or funds) are overseen by individuals with fundamental ethical principles of honesty, integrity, independence, fairness, openness and competence.
The CFA Institute Centre for Financial Market Integrity is seeking comment on the proposed Code of Conduct for Members of a Pension Scheme Governing Body. Comments may be submitted in writing by email, regular mail or fax to the CFA Institute no later than October 15, 2007.
When completed, the Code of Conduct will be available on Innovest’s blog.