(1) TCI's Code of Ethics is the financial services industry's recognition of the critical and privileged role it plays in society, and TCI's acceptance by the financial services industry of its corporate officers' commitment to upholding high standards of professionalism and ethics in their business and professional activities.

(2) High standards of professionalism and ethics require that the personnel of TSCI serve its clients and their legitimate interests in an open and transparent manner, with the highest standards of professional and ethical behavior, while at the same time safeguarding and promoting the development of the industry with the interests of the overall society and the market environment as the overriding premise.

(3) The financial services industry is interconnected, complex and increasingly global. Maintaining and enhancing a strong culture of professionalism and ethics, rooted in a set of core ethical norms across the industry, will help to strengthen the protection of financial consumers and a more resilient financial system, which in turn will help to ensure the credibility and sustainability of the industry, as well as to enhance the overall reputation of the industry and increase public trust in the industry. This can be achieved through the widespread adoption of internationally recognized ethical standards by organizations and individuals in the financial services industry and by industry bodies with effective systems of implementation.

(4) This Code establishes a core code of ethics, in letter and spirit, to which Tenants are expected to adhere and by which they can be guided in their decision-making and behavior.

(5) This Code applies to all individuals in the TenCen. The financial services industry encompasses a wide range of areas including banking, finance, insurance, capital markets and trusts, and provides a wide range of services to individuals and clients with varying levels of sophistication in financial literacy and skills, as well as to families, corporations, government and civic organizations, etc.

(6) This Code applies to all individuals at TCI.

(6) This Code is made by the Board of Directors of TCI. It does not replace any relevant laws and regulations. However, it supplements the formal regulatory system and promotes public oversight of the financial services industry through an open, voluntary, and principles-based Code of Ethics “developed by the industry in the industry's interest and in the public interest”.