Principles of Conduct

Preamble

Individuals who serve as fiduciaries to employee benefit plans or who provide advice or services to employee benefit plans have a significant responsibility to act in a manner consistent with the interests of plans, their participants, and the general public. The following Principles of Conduct are standards of an aspirational and idealistic nature which serve as models of exemplary conduct. In order to support the basic objectives of high levels of competence, performance and ethical conduct, all persons who seek or obtain the CEBS designation are expected to comply with the letter and spirit of these Principles of Conduct.

Principle 1: In all professional, business, or fiduciary relationships with an employee benefit plan, a CEBS shall at all times accord the highest priority to the interests of the plan's participants and their beneficiaries.

Principle 2: A CEBS shall continually strive to maintain and improve the knowledge and skills needed to effectively serve employee benefit plans and their participants and beneficiaries.

Principle 3: When serving an employee benefit plan, whether in a fiduciary capacity or otherwise, a CEBS shall apply the care, skill, prudence and diligence under the circumstances then prevailing that a prudent individual acting in a like capacity and familiar with such matters would use in the conduct of matters of a similar nature.

Principle 4: A CEBS shall not allow the pursuit of financial gain or other personal benefit to interfere with the primary obligation to accord the highest priority to the interests of plan participants and their beneficiaries.

Principle 5: In the conduct of business, professional, or fiduciary activities, a CEBS shall avoid any activity or conduct which constitutes a dishonest, deceitful, fraudulent or knowingly illegal act.

Principle 6: A CEBS shall support the development and enforcement of such laws, regulations and codes as will foster the highest level of competence, performance and ethical conduct on the part of all persons offering services to employee benefit plans.

Principle 7: A CEBS shall not endorse the CEBS candidacy of any individual known by the CEBS to engage in practices that violate these Principles of Conduct.

Principle 8: A CEBS shall respect any confidential relationships that may arise in his or her dealings with any employee benefit plan.

Principle 9: A CEBS shall honor the integrity, and respect the limitations placed upon the use of the CEBS designation.