Corruption is the most significant obstacle to the proper functioning of an efficient market-driven economy in both developed and developing countries. It has a major negative impact on growth, productivity and prosperity.
Corruption creates an uneven playing field, giving unfair advantage to a few to the detriment of others — many companies and investors are turned away in an environment of reduced efficiency where the rule of law is not observed and where business dealings have no predictability.
Fighting corruption is best achieved by adhering to high standards of integrity and ethics in best practices and standards.
The World Business Angels Investment Forum Code of Conduct will serve its ecosystem by outlining shared expectations for personal and professional behaviours, business practices, leadership qualities, and standards of excellence, all of which are necessary for surviving and growing in today’s competitive global economies.
On 16 February 2020, the Grand Assembly of the World Business Angels Investment Forum unanimously approved the WBAF Conduct of Conduct proposed by its Ethics, Governance, Quality Leadership & Excellence Standards Committee. The WBAF Conduct of Conduct defines the ethical standards and espouses equal employment opportunities, fair practices, leadership skills, sustainable growth, corporate social responsibility, corporate governance, accountability and transparency, antitrust adherence, quality standards and consumer protection, intellectual property rights, and fair and principled lobbying and advocacy.
You can download the WBAF Code of Conduct here: https://wbaforum.org/upload/WBAF%20Code%20of%20Conduct.pdf