Security Bank adopts international code of conduct for asset managers

THE asset management arm of Security Bank Corp. has completely adopted an international code of conduct ensuring the adherence of its asset managers to ethical principles.
In a statement, the bank said its Trust and Management Group (TAMG) has adopted the Asset Manager Code, a voluntary code of conduct set by the Chartered Financial Analyst (CFA) Institute.
“It is the responsibility of asset managers to invest responsibly and with honesty and integrity in the financial markets,” Security Bank President and Chief Executive Officer Alfonso L. Salcedo, Jr. explained in the statement.
“A higher ethical standard will boost consumer trust and protect the hard-earned investments of our clients.”
The principles and provisions stipulated in the code address six broad categories include loyalty to clients, investment process and actions, trading and risk management among others.
Security Bank added that it has worked towards adopting the code in its internal policies and requiring its fund managers to abide by the code since 2016. — KANV