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Introduction to Ethics
The important points addressed in this lesson are:
The Golden Rule is the foundation of ethics.
The fact of society -- that we don't exist alone -- makes an ethical system necessary.
Two methods exist to resolve disagreements between members of a society: force and reason.
The use of force destroys relationships and is, therefore, an inappropriate principle for conflict resolution in a society.
The Golden Rule is the most palatable principle on which to base a reasoned approach to conflict resolution for the greatest number of people.
Compliance and ethics are closely related concepts, but they are not identical.
Ethics applies to virtually every act of and tool used by the financial services practitioner.
Professions are characterized by specialized knowledge, a service-before-income outlook and an ethical code to which members are expected to adhere.