Ethics - Gifts


If a client gives me a bottle of wine or a trip to France. Will these two be any different in terms of action required?

Can I accept without having approval? Am I obligated to report this to my compliance department or manager?

depends on the context of the gift (mostly when and why).

if the gift is a “thank you” gift for a solid performance on the client’s account, it can be accepted but must be disclosed to your firm. therefore, these kinds of gifts usually are gifted after a certain period of managing the client’s account.

if the gift is an “incentive” gift to make you focus on the client’s account more than others (discriminatory), it should not be accepted. these kinds of gifts usually are gifted just as the client opened their account.

the fun part is deciding whether it is a “thank you” or an “incentive”