Code of Conduct
Members and their representatives should at all times conduct their business in a way commensurate with best principles, and with particular regard to the following points:-
1. Relationship with Clients
Members and their representatives should conduct their business with the utmost good faith and integrity, being mindful of the well-being of their clients at all times.
2. Relationship with other Members of the Association
Members and their representatives should respect the position of other Members. Where a Member or their representative for any reason is being replaced as Provider, Trustee or Scheme Administrator then parties should take steps to ensure that all relevant interests are informed.
The incoming Provider, Establisher Trustee or Scheme Administrator should make enquiries as to whether or not there are any professional reasons that should exclude his/her appointment.
3. Relationship with other parties
Members and their representatives shall do everything possible to maintain confidentiality and not to disclose to other parties any information without the client’s consent. Also, relationships with other parties shall be dealt with in a professional manner conducive to best principles. Any conflicts of interest, where they cannot be eliminated, must be disclosed.
4. Relationship with the public
Statements made by or on behalf of the Members or their representatives in any published manner shall not be misleading or extravagant. Any advertisement or promotional material carrying the legend ‘Member of the Association of Member-Directed Pension Schemes’ must be approved by the Committee of the Association.
Members and their representatives are reminded of any obligations they may have under Trust Law and Statute and any other undertakings that they may have given. This code should be applied in conjunction with any other relevant bodies Codes.
5. Relationship with Regulators
Members should be aware that the Association conducts representative discussions with the Regulators and other Government Departments and bodies for the benefit of all Members. Matters of general concern to Members and their representatives can be referred to the Committee for discussion with the Regulators and other bodies. However the Association is not responsible for providing legal and/or tax opinion relating to specific issues though it may seek professional guidance. Members and their representatives are quite at liberty to make their own approaches to the Regulators and other Government Departments but must make it clear that the enquiry is in their personal capacity and not on behalf of the Association.
6. Committee Conduct
In addition to the code outlined above Members who are elected to the Committee of the Association should also have regard to the following:-
1) Members should not seek to link the name of their business with comments attributed on behalf of the Association. Only duly authorised members of the Association Committee may make statements on behalf of the Association.
2) Committee members have a duty to ensure the smooth, professional running of the Association. To ensure the efficiency of the operation of the Committee Members should attend a minimum of two thirds of the scheduled Committee Meetings each year.
The Nominated Representative shall be given access to the Association’s website. The dissemination of information from and access to the website via the Nominated Representative’s log on shall be the sole responsibility of the Member. When posting any items on the Association’s website Members and their Nominated Representatives shall have regard to their obligations as set out in this Code of Conduct.
Note: Disciplinary Procedures
The Association Constitution provides for the non-renewal of membership should the Committee decide, after considering all of the available evidence, that a Member or any of his representatives has breached this code.