Code of Ethics and Standards

Topics

• Preface
  • Evolution of the CFA Institute Code of Ethics and Standards of Professional Conduct
  • Standards of Practice Handbook
  • Summary of the 2023 Revisions to the Code and Standards
  • New and Revised Standards of Professional Conduct
  • CFA Institute Professional Conduct Program
  • Adoption of the Code and Standards
  • Acknowledgments
• Ethics and the Investment Industry
  • Why Ethics Matters
• CFA Institute Code of Ethics and Standards of Professional Conduct
  • Preamble
  • The Code of Ethics
  • Standards of Professional Conduct

Ethics Application
Introduction
Professionalism
Knowledge of the Law
Independence and Objectivity
Misrepresentation
Misconduct
Competence
Integrity of Capital Markets
Material Nonpublic Information
Market Manipulation
Duties to Clients
Loyalty, Prudence, and Care
Fair Dealing
Suitability
Performance Presentation
Preservation of Confidentiality
Duties to Employers
Loyalty
Additional Compensation Arrangements
Responsibilities of Supervisors
Investment Analysis, Recommendations, and Actions
Diligence and Reasonable Basis
Communication with Clients and Prospective Clients
Record Retention
Conflicts of Interest
Avoid or Disclose Conflicts
Priority of Transactions
Referral Fees
Responsibilities as a CFA Institute Member or CFA Candidate
Conduct as Participants in CFA Institute Programs
Reference to CFA Institute, the CFA Designation, and the CFA Program