Such continued shortfalls emphasise not just the need for stronger and more effective selfregulation in the industry, but also the role that professional bodies like the ACI can and should play in areas like the development of conduct rules for its members, and in educating finance professionals to better understand the complexity of today’s financial world and the risks emanating from that complexity.
In adapting to these needs, the ACI Model Code is being developed as an online exam (separate module) that can be incorporated into individual bank and institution compliance processes. The Code will be updated annually and staff will keep current with the Model Code by completing the exams annually to ensure compliance and adherence to the etiquette of the market rules of engagements.