Code of Ethics and Standards of Professional Conduct
The benchmark for professional conduct for investment professionals around the globe.
About the code
As a CFA Institute member, CFA® Program candidate, or CIPM® Program candidate, you are required to follow the CFA Institute Code of Ethics and Standards of Professional Conduct (Code and Standards).
The CFA Institute Board of Governors approved updates to the Code of Ethics and Standards of Professional Conduct effective 1 January 2024.
Overview of the latest revisions to the code
An overview of the changes to the CFA Institute Code of Ethics and Standards of Professional Conduct. These changes apply for all charterholders, CFA Institute members, and candidates in the CFA Program, effective 1 January 2024.
Key documentation
Code of Ethics and Standards of Professional Conduct
Read the Code of Ethics and Standards of Professional Conduct effective 1 January 2024.
Standards of Practice Handbook (12th edition, 2024)
Contains the current version of the Code and Standards and the guidance that supports the changes.
Ethics in Practice Casebook (2nd edition)
Test your application of the Code and Standards with short cases based on real-world scenarios.
Individual standards of practice guidance
- Glossary
- Standard I: Professionalism
- Standard II: Integrity of Capital Markets
- Standard III: Duties to Clients
- Standard IV: Duties to Employers
- Standard V: Investment Analysis, Recommendations, and Actions
- Standard VI: Conflicts of Interest
- Standard VII: Responsibilities as a CFA Institute Member or CFA Candidate
Have a question about the code?
Find answers to your frequently asked questions, open an inquiry or find specific office locations and contact information.
More in this section
Professional Conduct Statement
Learn about the Professional Conduct Statement, which every member must complete annually.
Professional Conduct
Learn how we investigate allegations, determine violations, impose sanctions, and disclose infringements.
Report misconduct
Report conduct you believe is unethical, illegal or harmful by CFA members or candidates.
