Ethics & Guidelines


CODE OF ETHICS AND STANDARDS OF CONDUCT

PREAMBLE: QUIP™ DESIGNEE CODE OF ETHICS & STANDARDS OF CONDUCT are fundamental to the values of the QUIP™ Institute and essential to achieving its mission to lead the private investment profession by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of investors, clients, employers, higher education institutions, and the individual’s career aspirations. High ethical standards are critical to maintaining trust and value in the private sector and in the investment profession. All QUIP™ members holding the QUIP™ designation must commit to and abide by the Code and Standards. Violations may result in disciplinary sanctions by the QUIP™ Institute. Sanctions can include revocation of membership, revocation of candidacy in the QUIP™ Program, and revocation of the right to use the QUIP™ designation.   

THE CODE OF ETHICS: QUIP™ designees and candidates for the QUIP™ designation (“Members”) must: 

  • Act with integrity, competence, diligence, respect and in an ethical manner with the public, clients, prospective clients, investors, employers, employees, colleagues in the investment profession, and other participants in the global capital markets.
  • Place the integrity of the investment profession and the interests of clients above their own personal interests.
  • Use reasonable care and exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions, and engaging in other professional activities.
  • Practice in a professional and ethical manner that will reflect credit on themselves and the profession.
  • Maintain and improve their professional competence and strive to maintain and improve the competence of other investment professionals 

STANDARDS OF CONDUCT: QUIP™ designees, members and candidates for the QUIP™ designation (“Members”) commit to:

PROFESSIONALISM

Preamble: The QUIP™ INSTITUTE’S SOCIAL MEDIA POLICY FOR DESIGNEES AND CERTIFICATION CANDIDATES policy lays out clear guidelines to uphold the values of the QUIP™ designation within the online community and media in general.

A. Knowledge of the Law. Members must understand and comply with all applicable laws, rules, and regulations (including the QUIP™ DESIGNEE CODE OF ETHICS & STANDARDS OF CONDUCT) of any government, regulatory organization, licensing agency, or professional association governing their professional activities. In the event of conflict, Members must comply with the more strict law, rule, or regulation. Members must not knowingly participate or assist in and must dissociate from any violation of such laws, rules, or regulations. 

B. Independence and Objectivity. Members must use reasonable care and judgment to achieve and maintain independence and objectivity in their professional activities. Members must not offer, solicit, or accept any gift, benefit, compensation, or consideration that reasonably could be expected to compromise their own or another’s independence and objectivity.  

C. Misrepresentation. Members must not knowingly make any misrepresentations relating to investment analysis, recommendations, actions, or other professional activities.  

D. Misconduct. Members must not engage in any professional conduct involving dishonesty, fraud, or deceit or commit any act that reflects adversely on their professional reputation, integrity, or competence.  

E. Social Media Representation.  Members must practice prudence and professionalism on any platform, with no exception, when representing QUIP™ Institute, QUIP™ Institute membership, the QUIP™ designation, or candidacy in the QUIP™ Program.

DUTIES TO EMPLOYERS, CLIENTS & INVESTORS

A. Loyalty, Prudence, and Care. Members have a duty of loyalty to their employers, clients and investors and must act with reasonable care and exercise prudent judgment. Members must act for the benefit of their clients and place their clients’ interests before an employer’s or their own interests.  

B. Fair Dealing. Members must deal fairly and objectively with all employers, clients, and investors when providing investment analysis, making investment recommendations, taking investment action, or engaging in other professional activities.  

C. Employment.  In matters related to their employment, Members must act for the benefit of their employer and not deprive their employer of the advantage of their skills and abilities, divulge confidential information, or otherwise cause harm to their employer.  

D. Responsibilities of Supervisors. Members must make reasonable efforts to ensure that anyone subject to their supervision or authority complies with applicable laws, rules, regulations, and the Code and Standards.

INVESTMENT ANALYSIS, RECOMMENDATIONS, AND ACTIONS

A. Diligence and Reasonable Basis. Members must:  

1. Exercise diligence, independence, and thoroughness in analyzing investments, making investment recommendations, and taking investment actions.  

2. Have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment analysis, recommendation, or action.  

B. Communication with Investors, Clients, Prospective Clients. Members must: 

 1. Disclose to investors, clients and prospective clients the basic format and general principles of the investment processes they use to analyze investments, select deals, and construct portfolios and must promptly disclose any changes that might materially affect those processes. 

2. Disclose to investors, clients and prospective clients significant limitations and risks associated with the investment.  

3. Use reasonable judgment in identifying which factors are important to their investment analyses, recommendations, or actions and include those factors in communications with clients and prospective clients.  

4. Distinguish between fact and opinion in the presentation of investment analysis and recommendations.  

RECORD RETENTION AND PRIVACY

A. Retention. Members must develop and maintain appropriate records to support investment analyses, recommendations, actions, and other investment-related communications with clients and prospective clients for a reasonable amount of time.  

B. Privacy. Members must always exercise strict adherence to the privacy of their employer, investor or client with respect to their investment processes, deals, and identity as expected by that employer, investor or client.

CONFLICTS OF INTEREST

A. Disclosure of Conflicts. Members must make full and fair disclosure of all matters that could reasonably be expected to impair their independence and objectivity or interfere with respective duties to their clients, prospective clients, and employer. Members must ensure that such disclosures are prominent, are delivered in plain language, and communicate the relevant information effectively.  

B. Priority of Participation. Investment prudence for investors, clients and employers must have priority over investment dealings in which a Member is the beneficial owner.  

C. Referral Fees. Members and Candidates must disclose to their employer, clients, and prospective clients, as appropriate, any compensation, consideration, or benefit received from or paid to others for the recommendation of products or services.

RESPONSIBILITIES AS A QUIP™ INSTITUTE MEMBER

A. Conduct as Participants in QUIP™ Institute Programs. Members must not engage in any conduct that compromises the reputation or integrity of QUIP™ Institute or the QUIP™ designation or the integrity, validity, or security of the QUIP™ Institute programs 

B. Reference to QUIP™ Institute, the QUIP™ Designation, and the QUIP™ Program. When referring to QUIP™ Institute, QUIP™ Institute membership, the QUIP™ designation, or candidacy in the QUIP™ Program, Members must not misrepresent or exaggerate the meaning or implications of membership in QUIP™ Institute, holding the QUIP™ designation, or candidacy in the QUIP™ program.


DISCLOSURE

The certificate program offered by QUIP™ Institute is unaccredited and voluntary, while it is accepted by a some practitioners and firms, it doesn’t offer any guarantees to the certificate holders, or promise employment in the Venture Capital industry.