Lesson 3 of 5 · 11 min
The six components of the Code of Ethics
The Code of Ethics is six high-level aspirations, and the seven Standards of Professional Conduct turn them into concrete rules that members and candidates must follow.
In short
- The Code is aspirational: broad principles. The Standards are practical: specific required conduct. Read them together as one interwoven set.
- Six Code components: act with integrity, competence, diligence and respect; put the profession's integrity and clients' interests first; use reasonable care and independent judgment; practise and encourage professional, ethical conduct; promote the integrity and viability of global capital markets for the ultimate benefit of society; maintain and improve competence, own and others'.
- Seven Standards: I Professionalism, 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.
- Members and candidates have a personal responsibility to uphold the Code and Standards and are encouraged to tell their employer about it.
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