What regulatory document outlines the fair conduct requirements for businesses?

The Statements of Principle is the correct choice because it details the fundamental principles that firms must adhere to in order to ensure fair conduct in their business practices. These principles serve as a framework for ethical decision-making and emphasize the importance of treating clients fairly, managing conflicts of interest, and maintaining integrity in communication and transactions. By explicitly outlining these requirements, the Statements of Principle guide businesses in implementing policies and procedures that promote fair treatment of consumers and contribute to a trustworthy financial system.

The Code of Ethics might also include fair conduct principles but is typically more focused on ethical standards and personal conduct of individuals within an organization rather than the broader operational principles that apply at a firm level. Operational Guidelines provide specific procedures and processes for compliance but do not establish the overarching principles necessary for fair conduct. The Regulatory Framework encompasses a range of regulations and guidelines, but it is the Statements of Principle that specifically delineate the fair conduct obligations required of businesses.