Launch of the Investment Migration Council Code of Ethics and Professional Conduct
25 June, 2015 – Geneva
The Investment Migration Council (IMC), the worldwide association of professionals dealing with investor immigration and citizenship-by-investment, has today publicly launched the industry’s first worldwide Code of Ethics and Professional Conduct.
The main components of the code include specific sections on:
- Integrity and ethical practice
- Conflicts of interest
- Disciplinary rules and procedures
- Regulatory compliance and continuing professional development
The work of developing the code was carried out by the IMC secretariat, in collaboration with the IMC’s Governing Board and Advisory Committee representing a number of academic and professional practice experts.
It was at a recent major conference that Bruno L’ecuyer, the organisation’s CEO, affirmed that the Geneva-based association would provide a code of ethics and a set of ‘rules’ for its members to follow as part of its promise of setting professional practice and business ethics principles on a global level.
IMC Chairman Prof. Dr. Dimitry Kochenov commented: “The vast majority of people who work in the residency and citizenship by investment industry are honest professionals and businesses who seek to provide the highest standards for their clients. The IMC Code of Ethics and Professional Conduct clearly defines the expectations of the basic standards and behaviour for everyone in the industry and brings all practitioners at par with other trusted professions that have such codes, like those in law or accountancy.”
Major firms and practitioners globally have welcomed the code with enthusiasm; Austin Fragomen, Founder and President of Fragomen Worldwide said “An important role of the IMC is to establish a uniform code of ethics and professional conduct across the world for service providers. Trust and reliability are essential ingredients for the representatives of private clients seeking migration assistance. What the IMC is providing with this code is a verifiable credential of integrity and transparency.”
The code is immediately applicable to all members of the IMC as a condition of membership. The IMC is confident that through such initiatives, the standards of the industry will be elevated and will support its overall mission to set levels of professionalism in relation to residence and citizenship-by-investment worldwide and also create a culture of transparency in the sector which serves the UHNWI community of global citizens.
The Investment Migration Council