Code of Ethics Advisors

 

 

INTRODUCTION

This Code of Conduct is applicable to Members of the Associazione Italiana del Franchising (Assofranchising) which are part of the “Register of Professional Advisors", as defined in article 4) bis of the Assofranchising Statute approved on 28 November 2001.

This Code of Conduct is additional and complementary to the Professional Code of Ethics which the Members of the “Register of Professional Advisors” are obliged to comply with as a result of their registration, enforced by law, to Registers and/or Professional Associations. In case of irresolvable conflict in interpreting the provisions of such a Code of Professional Ethics and those of this Code of Conduct, the first shall take precedence over the second. Members of the “Register of Professional Advisors” affected by such a conflict must immediately notify Assofranchising by requesting clarifications and guidelines on the matter.

Assofranchising shall monitor the observance of the rules of this Code by Members of the “Register of Professional Advisors” and, where this does not hold or is inadequate, shall address the Members of the “Register of Professional Advisors” who are liable and enforce the penalties foreseen in the Statute of Assofranchising where it considers this appropriate.

Art. 1 – APPLICABLE LAWS

1.1. Members of the “Register of Professional Advisors” must scrupulously observe the provisions contained in this Code, as well as those contained in the European Code of Ethics and in the Rules and Regulations of Assofranchising insofar as they are applicable.
1.2. Members of the “Register of Professional Advisors” must promote, in every way and under every circumstance, compliance with the provisions contained in the abovementioned texts by their customers and/or third parties, even if they are not registered with Assofranchising.

Art. 2 – GENERAL DUTIES OF CONDUCT

2.1. Members of the “Register of Professional Advisors” must operate, at all times, under the criteria of good faith, propriety and impeccable professionalism. They must also adopt every possible solution to make this possible.
2.2. Members of the “Register of Professional Advisors” must put the interests of clients above their own interests and faithfully respect the guidelines which they receive from clients.
2.3. Members of the “Register of Professional Advisors” must immediately notify clients of any circumstance which could directly or indirectly have an impact on the trust – or execution – of the role which is about to be in place, or which has been entrusted to them by clients.

Art. 3 – CONFIDENTIALITY

3.1. Members of the “Register of Professional Advisors” must maintain the integrity of all confidential information which they might have received from clients in relation to the role entrusted to them, or which comes to their knowledge as a result of this role.
3.2. Members of the “Register of Professional Advisors” must refrain, in carrying out their work, from using information that is confidential in nature which they might have come across while conducting activity for previous clients.

Art. 4 – TRANSPARENCY

4.1. Members of the “Register of Professional Advisors” must immediately notify clients of any direct or indirect interest which they might have in carrying out the role which is offered to them – or which they are performing - as well as any circumstance which could directly or indirectly interfere with its execution.
4.2. In particular, purely by way of example and not as an exhaustive list, Members of the “Register of Professional Advisors” must immediately notify clients of the following:

a) Any direct or indirect participation that they have in the management of firms or companies which are in competition with clients;

b) Any direct or indirect economic interest they hold in products or services which they recommend for their clients’ use;

c) The existence, but not the name, of any of their clients which may be in competition with clients;

d) Any change in the abovementioned circumstances.

 

Art. 5 – PROFESSIONALISM

5.1. Members of the “Register of Professional Advisers” must only accept tasks which fall within their professional competence and which they are in a position to perform in an adequate manner.
5.2. Members of the “Register of Professional Advisors” must take scrupulous care to ensure that they constantly stay professionally up-to-date, using every necessary tool to achieve this, including meetings organised by Assofranchising.

 

Art. 6 - COMPENSATION

Members of the “Register of Professional Advisors” must provide clients, at their request, with a budget relating to the amount of their compensation or a precise indication of the criteria which shall be adopted for quantifying such compensation.

Art. 7 – CONFLICT OF INTEREST

Members of the “Register of Professional Advisors” cannot protect the interests of a Franchisee against a Franchisor for which they have performed consultancy, if this has not been expressly authorised by the Franchisor.

Art. 8 - DUTY TO INFORM ASSOFRANCHISING

Members of the “Register of Professional Advisors” must immediately notify Assofranchising of all relevant information concerning their competence and activity, and in particular relating to:

a) Specific knowledge, research carried out and activities performed;

b) Proven professional capabilities;

c) Organisation of their enterprise;

d) Any insolvency procedures which they are subject to or have been subject to.

 

Art. 9 – PROMOTION

Members of the “Register of Professional Advisers” must inform clients of their membership of Assofranchising, the fact that they are accountable to the provisions of this Code of Conduct and the information, self-regulation, vigilance and conciliation activities performed by Assofranchising.

Art. 10 – RESOLUTION OF DISPUTES AND PENALTIES

10.1 Members of the “Register of Professional Advisors” must notify Assofranchising of any dispute which clients bring against them, with reference to the implementation of their consultancy and assistance activity in the franchising sector.
10.2 Members of the “Register of Professional Advisors” must do their utmost to persuade clients to submit to Assofranchising any dispute between them and Members of the “Register of Professional Advisors” or other Assofranchising Members.
10.3 Assofranchising shall take action to attempt to resolve the dispute amicably, as well as to assess and punish any failure to observe the provisions of this Code, the A.I.F. Rules and Regulations and the European Code of Ethics.
10.4 Members of the “Register of Professional Advisors” undertake to respect the judgement, decisions and recommendations of Assofranchising relating to the attempt to resolve their own personal dispute amicably and to examine, assess and punish any failure to observe the above mentioned provisions.

 

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