Ethics for the investment management profession
What we do: Lifelong ethics learning
CFA Institute Code of Ethics and Standards of Professional Conduct
Ethical benchmark detailing the professional conduct required of CFA Institute members to ensure professionalism, competence, integrity, and the protection client interests.
Standards of Practice Handbook
Provides comprehensive interpretation and guidance to the CFA Institute Code and Standards and is the bedrock of the ethics curriculum in the CFA Program.
Ethics Learning Lab
A collection of educational programs hosted in our Learning Ecosystem focused on ethical decision-making in the investment industry, application of the CFA Institute Code and Standards to real-world scenarios and voicing and acting on ethical values in professional settings.
CFA Institute Ethical-Decision Making Framework
A structured, four-step process—Identify, Consider, Act, Reflect—designed to help investment professionals navigate complex ethical dilemmas.
Ethics in Practice Casebook
A compilation of over 100 real-world scenarios- often derived from actual regulatory cases -- designed to help investment professionals apply the CFA Code and Standards and hone their investment decision-making skills.
Giving Voice to Values
Developed in partnership with Dr. Mary Gentile. an action-oriented curriculum for investment professionals focusing on how to voice values and act ethically in the workplace, rather than just analyzing what is right.
Ethics Helpdesk
Request guidance or interpretation from CFA Institute on the application of the Code and Standards by writing to [email protected]
Asset Manager Code of Professional Conduct
A voluntary, global set of ethical standards for firms managing client assets. It promotes ethical behavior, client loyalty, and transparency, encouraging firms to act in their clients' best interests through professional care, objective judgment, and strict compliance procedures.
Industry Codes and Standards
CFA Institute provides codes and standards relating to a number of specific areas including investment performance, pension and endowment trustees, and sustainability disclosures.
Professional Conduct Enforcement
CFA Institute investigates potential violations and enforces the Code and Standards for members and candidates of for the CFA designation, upholding industry integrity and protecting investors.
Ethics in the CFA® Program
A candidate's ethics education begins with the CFA Program. Ethical principles and their application in the investment profession are fundamental in all three levels of the CFA Program curriculum.