Code of Ethics and Standards of Professional Conduct Question and answers already passed 2024/2025
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Ethics
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Ethics
Code of Ethics and Standards of Professional Conduct Question and answers already passed 2024/2025 Code of Ethics and Standards of Professional Conduct
What does the CFA Handbook provide
The CFA Handbook provides guidance in understanding the interconnectedness of the aspirational and practic...
Code of Ethics and Standards of
Professional Conduct
What does the CFA Handbook provide
The CFA Handbook provides guidance in understanding the
interconnectedness of the aspirational and practical principles and provisions
of the Code of Ethics and Standards of Professional Conduct (Code and
Standards).
Difference between code and standards of practice handbook
The Code contains high-level aspirational ethical principles that drive
members and candidates to create a positive and reputable investment
profession.
The Standards of Practice Handbook provides guidance to which CFA
Institute members and candidates are required to adhere.
Both the Code and Starts should be viewed and interpreted together for
ethical requirements
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,Enforcement of Codes and Standards
CFA institute members and candidates must comply with code and standards
The CFA Institute Board of Governors and Disciplinary Review Committee
(DRC), maintains oversight and responsibility for the Professional Conduct
Program (PCP)
- The DCR are volunteers
CFA Institute Bylaws and Rules of Procedure (Rules of Procedure) creates a
basic structure in enforcing Code and Standards
Two principles of Rules of Procedure for Proceedings Related to Professional
Conduct
confidentiality of proceedings and fair process to the member/candidate
Professional conduct inquires comes from number of sources
- Self-disclosure via annual Professional Conduct Statement
- Written complaints received by Conduct staff
- Evidence of misconduct through public sources, such as media articles
- Reports submitted by proctors detailing a candidates' conduct on exam day
- Analysis on exam materials after the exam and monitoring of social media by
CFA institute
,Sanctions imposed by CFA institute
- Public censure
- Suspension of membership and use of the CFA designation
- Revocation of the CFA charter.
- Suspended or prohibited from further participation in CFA Program if
enrolled CFA Program
6 Components of code of ethics
Act with integrity, competence, diligence, and respect and in an ethical
manner with the public, clients, prospective clients, employers, employees,
colleagues in the investment profession, and other participants in the global
capital markets.
Place the integrity of the investment profession and the interests of clients
above their own personal interests.
Use reasonable care and exercise independent professional judgment when
conducting investment analysis, making investment recommendations, taking
investment actions, and engaging in other professional activities.
Practice and encourage others to practice in a professional and ethical
manner that will reflect credit on themselves and the profession.
Promote the integrity and viability of the global capital markets for the ultimate
benefit of society.
, Maintain and improve their professional competence and strive to maintain
and improve the competence of other investment professionals.
7 Standards of Professional Conduct:
I) Professionalism
a.
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 CFA Candidate
Subparts - Standard I - Professionalism
A) Knowledge of the Law
B) Independence and Objectivitiy
C) Misrepresentation
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