The Private Banking Code of Conduct (“PB Code”) is the result of an industry-led effort to enhance the competency of private banking professionals and foster high market conduct standards.  It is applicable to financial institutions and their staff engaged in private banking activities in Singapore. The PB Code has been developed with recommendations from the Private Banking Advisory Group, which comprises representatives from the private banking industry. Under the PB Code, private banking professionals are expected to pass a common competency assessment called the Client Advisor Competency Standards before they provide any financial advice. In addition, the PB Code sets out market conduct principles relating to the business conduct of financial institutions and their staff engaged in private banking activities. These principles cover areas such as ethics and professionalism, client relationship management and risk management.