Professional Conduct
Professional Conduct enforces the CFA Institute Code of Ethics and Standards of Professional Conduct (Code and Standards) and the rules related to the CFA® or CIPM® Program.
Our aims
Educate
Educate our members and candidates and deter future misconduct.
Prevent
Prevent the misuse of our professional designations and certifications.
Promote
Promote high standards of ethical conduct in the investment profession.
Enforce
Enforce the Code and Standards in a fair, consistent, and effective manner.
Uphold
Enforce the rules relating to membership and the CFA Program.
Protect
Protect investors from harm and promote the integrity of the capital markets.
How code violations are handled
Rules and bylaws
The disciplinary process is a multilevel peer review process governed by the CFA Institute Bylaws and the Rules of Procedure. These provide guidance for conducting investigations into allegations, determining violations, imposing sanctions, conducting disciplinary proceedings, and disclosing violations.
Disciplinary sanctions
Professional Conduct violations can result in sanctions, including suspension or revocation of your membership and the right to use the CFA designation. For candidates, it can lead to a suspension or prohibition from the CFA or CIPM® Program.
Learn more about the different types of sanctions and search for individuals who have sanctions against them.
Learn more about the Disciplinary Review Committee and its role in enforcing the Code and Standards, conducting disciplinary proceedings, and imposing sanctions.
Report misconduct
Report possible misconduct by a CFA Institute member or candidate through our reporting channel.
More in this section
Standards for investment professionals
Learn how we protect the integrity of CFA Institute membership, designations, and exam programs.
Code of Ethics and Standards of Professional Conduct
Explore the Code and Standards documentation, get guidance on how to apply it and keep up to date on recent changes.
Professional Conduct Statement
Learn about the Professional Conduct Statement, which every member must complete annually.
