This textbook comprehensively compiles and describes core financial services-related ethics, compliance, and relevant regulatory standards of practice. It rests on a foundation of theory related to rulemaking, standards enforcement, and ethics with each chapter focusing on the behavioral and psychological factors associated with creating and managing ethical client-focused ethical practices. It includes practical examples of ethics violations and the actions that can be taken to address ethical lapses while also describing cognitive biases and behavioral outcomes related to rules, regulations, and ethical guidelines in the financial services profession. The book includes supplementary materials such as PowerPoints slides, practice test questions, videos, and regulatory updates, and will be of use to students in financial services including CFA and CFP programs alongside financial services professionals.
Part 1: Foundations of Ethics and Compliance in the Financial Services
Profession.
Chapter 1: Introduction to Ethics in the Financial Services
Profession.- Chapter 2: Ethical Theories and Frameworks.- Chapter 3: Ethical
Decision-Making in the Financial Services Profession.- Chapter 4: Psychology
and Behaviors in the Financial Services Profession.- Part 2: Regulatory
Environment and Compliance.
Chapter 5: Regulatory Framework in the Financial
Services Profession.- Chapter 6: Historical Changes and Key
Regulators.- Chapter 7: Risk Management and Compliance.- Part 3: Areas of
Ethical Focus.
Chapter 8: Ethics in Client-Facing Roles.- Chapter 9: Insider
Trading and Market Manipulation.- Chapter 10: Data Privacy and
Cybersecurity.- Chapter 11: Fair Treatment of Clients.- Part 4: Case Studies
and Practical Applications.
Chapter 12: Real-World Case Studies in Ethics
and Compliance.- Chapter 13: Developing an Ethical Culture in the Financial
Services Profession.- Part 5: Future Trends and Challenges.
Chapter 14:
Emerging Trends in the Financial Services Profession.- Chapter 15: The
Evolving Role of Ethics in a Digital Age.- Chapter 16: Conclusion and Future
Directions.
Wookjae Heo is an Assistant Professor of Financial Counseling and Planning at the Division of Consumer Science at Purdue University. He is currently teaching financial planning courses at Purdue including Ethics and Compliance in Financial Planning. Dr. Heo's main research interest is broadly related to financial behavioral intervention, financial stress, life insurance, and data mining/data analysis in financial planning.
John Grable, CFP®, teaches and conducts research in the Certified Financial Planner Board of Standards Inc. undergraduate and graduate programs at the University of Georgia where he holds an Athletic Association Endowed Professorship. Prior to entering the academic profession, he worked as a pension/benefits administrator and later as a Registered Investment Adviser in an asset management firm. Dr. Grable has served the financial planning profession as the founding editor of the Journal of Personal Finance and co-founding editor of the Journal of Financial Therapy and Financial Planning Review.
