Lessons
- CFA Institute Professional Conduct Program
- Six Components of the Code of Ethics
- Seven Standards of Professional Conduct
- Standard I - Professionalism (Standards of Professional Conduct)
- Standard II – Integrity of Capital Markets
- Standard III – Duties of Clients
- Standard IV – Duties to Employers
- Standard V – Investment Analysis, Recommendations, and Actions
- Standard VI – Conflicts of Interest
- Standard VII – Responsibilities of a CFA Institute Member or CFA Candidate
Seven Standards of Professional Conduct
The CFA members and candidates are expected to know and adhere by the following standards of professional conduct:
I. Professionalism
- Knowledge of the law
- Independence & objectivity
- Misrepresentation
- Misconduct
II. Integrity of capital market
- Material nonpublic information
- Market manipulation
III. Duties to clients
- Loyalty, prudence & care
- Fair dealing
- Suitability
- Performance presentation
- Preservation of confidentiality
IV. Duties to employers
- Loyality
- Additional compensation arrangement
- Responsibilities of supervisors
V. Investment analysis, recommendations & actions
- Diligence & reasonable basis
- Communication with clients & prospective clients
- Record retention
VI. Conflicts of interest
- Disclosure of conflicts
- Priority of transaction
- Referral fees
VII. Responsibilities as a CFA Institute member or CFA candidate
- Conduct as member & candidate in the CFA program
- Reference to CFA I, the CFA Designation & the CFA Program
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