not.
金融和投资专业人士应该做什么？顾名思义，规范伦理旨在为专业人员建立规范和准则，指导他们应该如何行事。例如，道德哲学、神学的伦理理论以及专业领域的职业规范、标准和可接受行为的定义，都固有这种伦理方法。因此，金融和投资中的道德规范方法定义了该行业的道德标准。它告诉从业者投资专业人士应该如何做到道德，哪些行为应该被认为是道德的，哪些行为不应该被认为道德。
Descriptive Ethics 描述性伦理学
What do investment professionals actually do? Descriptive ethics aims at describing not how people should behave but how they actually do behave. And descriptive ethics attempts to explain and predict the unethical behavior of people in real-life situations (O’Fallon and Butterfield 2005). Psychological research conducted in controlled laboratory studies and real world settings of professional decision makers offers a systematic and comprehensive basis for descriptive ethics in finance and investing. Only this psychological and descriptive approach allows us to understand when and why people and organizations in the investment industry engage in ethical behavior and when and why they do not.
投资专业人士实际上做什么？描述性伦理学的目的不是描述人们应该如何行为，而是描述他们实际的行为。描述性伦理学试图解释和预测现实生活中人们的不道德行为（O'Fallon和Butterfield 2005）。在受控实验室研究和专业决策者的真实世界环境中进行的心理研究为金融和投资中的描述性道德提供了系统和全面的基础。只有这种心理学和描述性的方法才能让我们了解投资行业的人和组织何时以及为什么会从事道德行为，以及他们何时以及为什么不从事道德行为。
Prescriptive Ethics 规定性伦理
How can finance and investment professionals be helped to get from what they actually do to what they should do? Based on descriptive insights about the factors influencing actual ethical decision making, the Prescriptive approach to ethics aims at helping people and organizations toward ethical decision making by giving advice about how to create environments that foster ethical decisions and how to improve the ethical component of decisions. The two main questions addressed by prescriptive ethics are the following: How can we create organizations that foster ethical behavior? How can we train professionals to readily perceive the ethical dimensions of their own behavior and to act ethically? Thus, prescriptive ethics suggests tools that assist people in making the prescribed decisions.
如何帮助金融和投资专业人士从他们实际做的事情转变为他们应该做的事情？基于对影响实际道德决策的因素的描述性见解，道德规范方法旨在帮助人们和组织做出道德决策，方法是就如何创造有利于道德决策的环境以及如何改进决策的道德成分提供建议。规范性伦理解决的两个主要问题如下：我们如何创建促进道德行为的组织？我们如何培训专业人员，让他们能够容易地感知自己行为的道德层面，并按照道德规范行事？因此，规范性伦理建议了帮助人们做出规定决定的工具。
4 See: Thomas Oberlechner Webster University Vienna “The Psychology of Ethics in the Finance and Investment Industry” Research Foundation of CFA Institute from http://www.cfapubs.org/doi/pdf/10.2470/rf.v2007.n2.4697
Ethics and Investment in Global Perspective 全球视野中的道德与投资
As the financial market now is more open globally, investment flows from one country to another more efficiently. With this comes an ethical risk for a financial firm. E.g. A financial firm in US investing in Singapore, but the ethical standard in both this countries financial market are different. Now which ethics standard should the firm or its employee follow? Can a firm’s employee ignore financial ethics code in US when he travels to Singapore? In this situation a firm should always follow the ethics code which is stricter. If US ethics code is stricter than the one in Singapore, it should still follow the US code of ethics.
随着全球金融市场更加开放，投资从一个国家流向另一个国家的效率更高。这给金融公司带来了道德风险。E、 g.美国一家金融公司在新加坡投资，但两国金融市场的道德标准不同。现在，公司或其员工应该遵循哪种道德标准？一家公司的员工在前往新加坡时是否可以无视美国的财务道德准则？在这种情况下，公司应始终遵守更严格的道德规范。如果美国的道德规范比新加坡的更严格，它仍应遵循美国的道德准则。
For individuals, the ethics code will apply globally i.e. if a person travels to jurisdiction outside of United States he is still bound by code of ethics and SEC laws. He is still not supposed to disclose all the protected financial information to any individual or firm.
对于个人，道德规范将在全球范围内适用，即如果一个人前往美国以外的司法管辖区，他仍受道德规范和SEC法律的约束。他仍然不应该向任何个人或公司披露所有受保护的财务信息。
When analyzing investment opportunities in emerging market a financial firm much always check the ethical code of the country he is investing in. Even if the probability of profit is high but there has been high number of cases of ethical violation then the investment might not be a good idea. A good example of this is the amount of investment that went in China during China’s IPO boom,
