CFA Institute upholds the CFA Institute Code of Ethics and Standards of Professional Conduct, exam rules and regulations, and Bylaws to protect the integrity of its membership, designations, and examination programs.
The CFA Institute Bylaws (PDF) require that members and candidates adhere to all applicable rules and regulations relating to professional conduct, including
The Bylaws also require that members and candidates file a Professional Conduct Statement annually (or with each exam registration), disclosing any allegations of professional misconduct investigations and disciplinary proceedings.
The disciplinary process is a peer-review process. The Professional Conduct Program (PCP) monitors and investigates potential professional conduct violations, and works with volunteer members of the Disciplinary Review Committee to conduct disciplinary proceedings, and impose disciplinary sanctions as needed.
The Rules of Procedure for Professional Conduct (PDF) govern and explain the disciplinary process for all members and candidates. Disciplinary sanctions range from private censure to permanent prohibition from the CFA Program or revocation of membership and the right to use the CFA designation.
Grounds for Sanctions
Disciplinary sanctions may be imposed on a member or candidate for:
Protect the Charter
Protect the Integrity
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