What does APER 2 emphasize for professionals?

The focus of APER 2 (the Statement of Principles issued by the Financial Conduct Authority) is on the expectation for professionals to act with due skill, care, and diligence. This principle emphasizes that individuals must demonstrate a high standard of competence in their professional activities and carry out their responsibilities with a level of attention and thoroughness that is expected in their roles.

Acting with due skill, care, and diligence is crucial because it ensures that professionals make informed decisions based on their expertise and relevant information, minimizing the risk of mistakes that could harm clients or undermine trust in the financial system. This principle aligns with the broader objectives of the regulatory framework that aims to protect consumers and maintain market integrity.

While acting with integrity is important for overall ethical behavior in any profession, APER 2 specifically highlights the need for professionals to exhibit a proficient level of performance in their duties, which encompasses skill and diligence. Quick and decisive actions are valuable in certain circumstances, but they should not come at the expense of thoroughness or quality of decision-making. Similarly, minimal oversight isn't consistent with the accountability that professionals must uphold under regulatory standards.