FSA says knowledge of ethical code 'poor'

The regulator's Statements of Principle and Code of Practice for Approved Persons (APER) sets out individuals' expected ethical behaviour in seven statements. In June, it proposed adding additional descriptions of behaviour, including 'paying due regard to the interests of a customer' to the statements. In a policy statement on competence and ethics published today, it confirms it will add the statements, but says it was surprised by the industry's poor knowledge of APER. "We are disappointed to note, through informal discussions with various industry stakeholders and implied thro...