Professional Code of Ethics Analysis: American Bankers Association

ABA’s Code of Ethics
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ABA’s Code of Ethics
Most companies have stipulated a set of values that all employees observe. A code of ethics outlines ethics, objectives, responsibilities, and values that define the nature of a firm and the behavior of its members. Ethical issues are common, and the code offers workers a framework to apply when dealing with them. This essay explored the code of ethics of the American Bankers Association (ABA), examines its application, and outlines the importance and benefits of a code of ethics.
Summary of ABA Code of Ethics
ABA is an organization that recognizes the need for a code of ethics that articulates knowledge, competency, conduct, integrity, responsibility, and objectivity for all individuals seeking certifications. ABA’s code of ethics outlines ten codes for all the professionals to observe (ABA, n.d.). Among the key ideas is that all professionals should avoid conflicts of interest in their conduct. Second, they should conduct personal and business affairs without damaging the reputation of their employers. The interests of the employers are above the personal ones, and individuals should exhibit honor and integrity. Use of information that is not publicly available for investment or sharing such information is prohibited. The code also obligates workers to adhere to confidentiality requirements when dealing with information. The professionals should avoid placing themselves in perilous positions through such acts as excessive gambling. Embezzlement, fraud, and other legal violations are discouraged across all professions. Additionally, handling tasks beyond one’s competence is not allowed. Lastly, all professionals are required to exercise reasonable care in expressing opinions regarding professional duties.
The summary of the code reveals that the organization has created a set of values that guide all actions and behavior of professionals. Those working in the banking industry can effectively handle situations as they emerge since a guideline is offered. Additionally, it is important to express that the banking industry is perilous, where risks could be detrimental to both the organizations and their employees. Workers hoping to build a career in the industry have a clear framework to apply all their actions.
Application of the Code to an Ethical Issue
Banking is a risky business that can cause massive losses through malpractice. Banks often engage in securities trading and a means of investing money. Many banks have affiliates o...