The Code of Professional Conduct for Financial Advice Services prescribes the standards that must be met to give regulated financial advice to retail clients. 

Each of the Code Standards is listed in the table below. For each Standard, explain:

• What the Standard means
• How it applies to FAPs, FAs and NRs
• Provide an example of how you apply (or would apply) the Standard in your everyday work as a financial adviser.

Please use your own words when providing your answers.

Code Standards	What it means and how it applies to FAPs, FAs, and NRs	How you apply the Standard in your everyday work as a financial adviser (minimum of 1 example)
Part 1: Ethical behaviour, conduct and client care
Code Standard 1 - Treat clients fairly
Code Standard 2 - Act with integrity
Code Standard 3 - Give financial advice that is suitable
Code Standard 4 - Ensure that the client understands the financial advice
Code Standard 5 - Protect client information
Part 2: Competence, knowledge and skill
Code Standard 6 - Have general competence knowledge and skill
Code standard 7 - Have particular competence, knowledge and skill for designing an investment plan
Code standard 8 - Have particular competence, knowledge and skill for product advice
Code standard 9 - Keep competence, knowledge and skill up to date

Answer rating: 100% (QA)

Sure here are the Code Standards what they mean how they apply to FAPs FAs and NRs and how I would apply them in my everyday work as a financial adviser Code Standard 1 Treat clients fairly This stand... View the full answer