Ethical & Professional Standards

Act with integrity/competence/respect; place client and profession integrity above self-interest; use reasonable care and independent professional judgment; practice and encourage ethical conduct; promote market integrity; maintain and improve professional competence.

The Code is a set of high-level ethical principles; the Standards are specific, enforceable rules that operationalize the Code into conduct requirements members and candidates must follow.

I Professionalism; II Integrity of Capital Markets; III Duties to Clients; IV Duties to Employers; V Investment Analysis, Recommendations and Actions; VI Conflicts of Interest; VII Responsibilities as a CFA Institute Member or Candidate.

Members must comply with the more strict of the applicable law, regulation, or the Code and Standards. The stricter rule governs when there is a conflict.

Dissociate from the activity. This may require reporting it to supervisors or compliance and, if not stopped, leaving the involvement; mere disagreement is insufficient.