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Lesson 3 of 10

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

  1. Knowledge of the law
  2. Independence & objectivity
  3. Misrepresentation
  4. Misconduct

II. Integrity of capital market

  1. Material nonpublic information
  2. Market manipulation

III. Duties to clients

  1. Loyalty, prudence & care
  2. Fair dealing
  3. Suitability
  4. Performance presentation
  5. Preservation of confidentiality

IV. Duties to employers

  1. Loyality
  2. Additional compensation arrangement
  3. Responsibilities of supervisors

V. Investment analysis, recommendations & actions

  1. Diligence & reasonable basis
  2. Communication with clients & prospective clients
  3. Record retention

VI. Conflicts of interest

  1. Disclosure of conflicts
  2. Priority of transaction
  3. Referral fees

VII. Responsibilities as a CFA Institute member or CFA candidate

  1. Conduct as member & candidate in the CFA program
  2. Reference to CFA I, the CFA Designation & the CFA Program
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Six Components of the Code of Ethics

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Standard I - Professionalism (Standards of Professional Conduct)

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Code of Ethics and Standards of Professional Conduct

10 lessons

Lessons

1
CFA Institute Professional Conduct Program
2
Six Components of the Code of Ethics
3
Seven Standards of Professional Conduct
4
Standard I - Professionalism (Standards of Professional Conduct)
5
Standard II – Integrity of Capital Markets
6
Standard III – Duties of Clients
7
Standard IV – Duties to Employers
8
Standard V – Investment Analysis, Recommendations, and Actions
9
Standard VI – Conflicts of Interest
10
Standard VII – Responsibilities of a CFA Institute Member or CFA Candidate
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