About us > Code of Ethics

Guiding Principle...

FINEX has adopted a code of Ethics that serves as a framework to guide its members' actions so that they may exercise their functions with integrity, dignity and professionalism and serve as role models in the business community. This Code is based on the fundamental guiding principle that financial executives hold a position of trust and confidence. This fiduciary role should be of paramount consideration in their dealings both within and outside their company or organization. They must act with utmost fairness and according to the highest moral principles, consciously and consistently pursued.

Rules of proper conduct apply in general to the following areas:

Review of remedial measures (legislative, administrative, etc.) to ensure that bills already passed achieve their objectives- e.g. Securitization.
Continue partnership with the Institute of Corporate Directors on governance reforms.
Promote educational campaign via seminars conducted by the Philippine Association of Collegiate Schools of Business (PACSB).
Increase awareness on capital market issues by arranging tv, radio and print interviews for and with the legislators supporting our legislative advocacies.
Pursue proposal for DOF to have a full-time capital market specialist.

The Finex Code of Ethics and Rules of Conduct pertain primarily to the behavior of Finex members in the conduct of their profession. In their workaday life, Finex members are also involved in manifold and varied activities that involve interaction with professional colleagues and other members of the community. This includes interpersonal relationships among members of Finex as they discharge their roles in the Institute. Observance of civility will go a long way toward fostering wholesome fellowship and enhancing camaraderie and esprit de corps among Finex members.

Civility is defined as a virtue or trait of not doing anything to intentionally harm or cause harm to a fellow human being --- especially in word and in deed. Simply put, civility refers to the act of manifesting respect for a fellow human being. Each Finex member must acknowledge that every human being is endowed with dignity and nobility. Hence, interpersonal transactions will be carried out in a manner that accords full respect to such dignity and nobility.

Lack or absence of civility need not involve unethical behavior or improper conduct on the part of Finex members. But observance of civility strengthens the foundations of ethical behavior. Lack or absence of civility undermines genuine fellowship and friendship. It is also detrimental to the building of authentic esprit de corps and undermines the cultivation of team spirit or the spirit of solidarity within an organization.

Procedures for Handling Concerns Involving Ethics & Civility

Any bona fide member of Finex may bring to the attention of the Ethics Committee any concern involving possible violation of the Finex Code of Ethics, Rules of Proper Conduct as well as non-observance of civility by a member or members of Finex. The following procedures shall be observed:

The Ethics Committee, acting en banc or through its Chair, shall appoint a member to conduct an initial inquiry. Within a week, such member must submit a report on the essential findings from the inquiry and the recommended actions to be taken.
If the essential finding is that the matter can be resolved through mediation or arbitration, a mediation process shall be set into motion. This process shall include: a) a cooling off period among parties involved; and b) exercise of friendly persuasion in an effort to bridge the differences among the parties involved. The mediation process shall take approximately two to four weeks. The mediator(s) shall be designated by the Ethics Committee from among its members or from among the Finex general membership. A report on the outcome of the mediation process shall be submitted to the Ethics Committee.
If the party that initiated the submission of the concern is not satisfied with the outcome of the mediation, he or she may request for formal arbitration. The arbiter(s) shall be designated by the Ethics Committee from among its members or from among the Finex general membership. The arbitration process shall be completed within two to four weeks.
If the party that initiated the submission of the concern is still not satisfied with the outcome of the mediation, he or she may request for a formal evaluation by the Ethics Committee sitting en banc. The request must be fully substantiated with appropriate supporting documents. Within a week from the receipt of said request, the Chair of the Ethics Committee shall convene an en banc meeting to set into motion the formal evaluation process.
The formal evaluation process to be conducted by the Ethics Committee meeting en banc shall include, among others: a) interviews with all concerned parties: b) fact- finding inquiry and review of all pertinent documents directly related to the concern. The formal evaluation process shall be completed within two to four weeks. At the start of the formal evaluation, the Chair of the Ethics Committee shall inform the Board, through the Liaison Director, on the subject of the formal evaluation. If the formal evaluation cannot be completed within four weeks, the Chair of the Ethics Committee shall request the Board for additional time.
If, after step number 1 above, the essential finding is that the submitted concern merits full evaluation by the Ethics Committee sitting en banc, the Chair of the Ethics Committee, in consultation with the Liaison director, shall bring the matter to the attention of the entire Committee so that the formal evaluation process stipulated in step number 5 above shall be set into motion.
The Ethics Committee shall submit its recommendation to the Board of directors whose decisions shall be final and executory.

Operating Guidelines

All possible avenues of reaching an amicable resolution through methods of mediation and arbitration shall be exhausted. The Principle of non-adversarial due process shall be observed.
To protect the integrity and interests of all concerned parties, utmost prudence and discretion shall be observed. Undue disclosure and publicity shall be strongly discouraged. Concerned parties shall be enjoined from reproducing or circulating materials pertaining to issues that have been submitted to the Ethics Committee. Non- compliance shall be dealt with appropriate sanctions.
ll proceedings shall be properly documented by designated Finex personnel and other authorized parties.
he Chairman of the Ethics Committee will determine, on a case-to-case basis, whether a deposit will be required from a complaining member to cover for expenses in relation to his/her complaint. The Chairman likewise will determine the amount of such deposit and the manner of payment.

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