AFMA is not a regulatory organisation, and so the Code does not have the force of law and is not binding on members. Most Member organisations have their own internal codes and may utilise other codes for sections of their business – for example, the ACI Model Code. Further, some individuals will belong to professional associations such as a law society or an accounting body, which have their own Codes of Conduct.
AFMA relies on its Member firms to observe the Code and to take appropriate action in response to events that may constitute a breach. In some cases, serious misconduct may also be a breach of the relevant law or regulation.
The AFMA Code provides a sound basis for Members and individuals to evaluate their own conduct. If you believe that you or others in your organisation may have breached the Code, you should consult your manager or compliance team.