Sanctions for violation of The American College Code of Ethics include temporary or permanent suspension of the right to use the CLU designation, the ChFC designation, or both. Complaints of alleged violations of The American College Code of Ethics must be initiated by individuals or institutions other than The American College. All the rules contained in the Certified Financial Planner Board of Standards Code of Ethics and Professional Responsibility are applicable to all professional activities of CFP designees. A professional is a person working in an area that requires, among other characteristics, a sense of altruism. When a person accepts a role in an organization, his or her decisions on ethical questions will be unaffected by that organization s goals.
Some compensation systems represent barriers to ethical decision making in organizations.
The use of nonguaranteed, noncurrent interest rates in a life insurance illustration is an example of churning.