What is considered the basis of professional ethics in finance?

The foundation of professional ethics in finance is centered on principles like integrity, transparency, accountability, and fairness. These elements establish a framework for behavior that is expected of finance professionals, as they engage with clients, colleagues, and the broader economic environment.

Integrity reflects the commitment to honesty and upholding moral principles, which is crucial in maintaining trust among stakeholders. Transparency ensures that operations, decisions, and financial dealings are clear, which prevents misinformation and builds credibility. Accountability emphasizes that professionals must take responsibility for their actions, demonstrating reliability in both decision-making and the management of others’ assets. Lastly, fairness highlights the importance of treating all parties equitably, avoiding discrimination and bias within the financial system.

In contrast, the other options do not align with ethical practices. Competitiveness and aggression could foster an environment that prioritizes wins over ethical considerations. Maximizing shareholder value at all costs often overlooks broader social responsibilities and can lead to unethical practices if not tempered with responsibility. Secrecy and manipulation violate trust and ethical standards, undermining the core responsibilities of finance professionals. Thus, the correct answer embodies the values that promote ethical practices in finance.