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The ethics of disclosure

Thursday 17 October, 2019
by Anonymous

You work in financial advice and have developed a friendly relationship with one of your clients who is now applying for an insurance product. They casually reveal to you that over a decade ago they engaged in regular recreational drug use.

Despite having been clean for a decade, the extent of the client’s drug use leads you to believe that, if disclosed, the client's insurance application will be blocked in an underwriting process and not be granted.

If it is disclosed, their application will not be accepted, and they will most likely be blacklisted from most products from the insurance company, which shares a database across its subsidiary financial product companies. Therefore, the disclosure might deny them the ability to secure many other financial products in the future.

What would you do? 

We challenge you to create a healthy discussion with your colleagues and post a comment below. You could even encourage them to consider taking The Banking and Financial Services Oath!

Please share your ethical dilemmas with us - we can post them anonymously. You can email your dilemmas to

Photo by Pim Myten on Unsplash


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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.
  • In these and all other matters;
    My word is my bond.