GARP Code of Conduct
13 important questions on GARP Code of Conduct
What is the objective of the CoC?
Note: biggest risk is not legal or compliance but ethical decisions. But consider the circumstances and culture of the applicable global community.
What does the Code of Conduct include?
- Professional standards
- Rules of conduct
Which members agrees to uphold and implement
Principle - Professional integrity and ethical conduct?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
Principle - Conflict of interest?
What professional standards?
- Best practices
- Communication and disclosure
Prof. standards - Fundamental responsibilities
- Endeavor and encourage others to operate at the highest level of professional skill
- Continue to perfect expertise
- Have a personal responsibility that is not out-sourced or delegated to others
Prof. standards - Best practices
- Promote and adhere to applicable best practice standards, and will ensure that activities performed under supervision satisfy this
- Recognize that risk management does not exist in a vacuum (has connections)
- Commit to considering the wider impact of their assessments and actions on colleagues and wider community
What Rules of Conduct?
- Conflict of interest
- Confidentiality
- Fundamental responsibilities
- General accepted practices
Rules of Conduct - Conflict of interest
- act fairly in all situations and must fully disclose any actual or potential conflict to all affected parties.
- make full and fair disclosure of all matters that could reasonably be expected to impair their independence and objectivity or interfere with their duties to any stakeholder.
Rules of Conduct - Confidentiality
- not make use of confidential information for inappropriate purposes and unless having received prior consent shall maintain confidentiality of their work/client or employer.
- not use confidential information to benefit personally
Rules of Conduct - Fundamental Responsbilities
- comply with all applicable laws, rules and regulations (including this code) for GARP members and shall not knowingly participate or assist in any violation.
- have ethical responsibilities that cannot be delegated
- understand the needs and complexity of their employer or client, and should provide appropriate and suitable advice and services
- be diligent about not overstating the accuracy or certainty of results or conclusions
- clearly disclose relevant limits of their specific knowledge and expertise concerning risk assessment, practices and applicable laws and regulation
Rules of Conduct - General accepted practices
- execute all services with diligence and perform all work in a manner that is independent from interested parties (highest level of objectivity)
- be familiar with current generally accepted risk management practices
- ensure that communications include factual data and do not contain false information
- make a clear distinction between fact and opinion in their work
How about applicability and enforcement?
Violation may result in:
- temporary suspension
- permanent removal
To roles, right to use FRM designation or any other GARP designation. In case a violation is confirmed by a formal determination of occurance.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
