Page 27 - Economy_Sustainable Global Economy

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This code present fundamental principles:
1. Honesty, Integrity, and Fairness
2. Reasonable Care and Diligence
3. Interests of Clients
4. Independence and Objectivity
5. Professional Competence
6. Required Knowledge and

As well as specific key principles:
1. Reasonable Basis and Fair Representation Principle
2. Suitability Principle
3. Prohibition Against Misrepresentation Principle
4. Prevention and Disclosure of Conflicts of Interest Principle
5. Compensation Principle
6. Fair Dealing with Clients Principle
7. Prohibition Against Use of Material, Non-Public Information Principle
8. Proper Use of Professional Qualifications Principle
9. Preservation of Client Confidentiality Principle

Audur Capital

Auður Capital was a financial service company, founded in 2007 by two Icelandic businesswomen, with the
aim of incorporating feminine values into finance.

Being “risk-aware” is one of those values, and one reason why they are convinced that getting the
male-female balance right is so important. “Women tend to bring a lot to the table. They think more
long-term, they think about the team, and not only themselves. They think more about people, and they
see other business opportunities than men.”

There is another, crucial difference, they find: “Women are willing to ask stupid questions. We want to
understand. We won’t take risks we don’t understand, so we ask: what is sub-prime? Who’ll pay these
loans back?” (http://news.bbc.co.uk/2/hi/business/8048488.stm, s.f.)

The company offered wealth management, private equity advice and corporate advice. It attempted to
correct what it perceived as a historic lack of balance and diversity in the financial sector. Auður succeed-
ed in preserving the funds of its clients when the Icelandic banks collapsed in October 2008. In December
2008 Auður announced the launching of BJÖRK, a private equity fund, established by Auður Capital and
the renowned musician Björk Guðmundsdóttir, active supporter of entrepreneurship, creative thinking
and increased diversity in the Icelandic economy. The aim of the BJÖRK venture fund was to invest in ear-
ly-stage corporations, with high growth potential capitalizing on Iceland’s human and/or natural resources,
as well as emphasizing sustainability and a triple bottom line.