Ethics, Codes & Standards
The Code of Ethics and Standards of Professional Conduct (Code and Standards) are the ethical benchmark for investment professionals around the world.
CFA Institute members, CFA Program Candidates and CIPM Program Candidates are required to follow the Code and Standards. Members commit to uphold the Code and Standards annually by completing a Professional Conduct Statement as part of their membership renewal process.
Industry Codes and Standards
Developing and administering industry codes, best practice guidelines, and standards.
Global Investment Performance Standards (GIPS)
The GIPS standards are voluntary, ethical standards that guide organisations on how to calculate and report their investment results based on the principles of fair representation and full disclosure.
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Inclusion Code
We recognise a diversity of perspective will lead to better investor outcomes; an inclusive investment industry will better serve our diverse society. CFA Institute is developing a voluntary code to guide Inclusion, beginning in the United States and Canada and developing regionally, including Australia from 2024 onwards.
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Asset Manager Code
We offer the voluntary CFA Institute Asset Manager Code to help asset managers practice ethical principles that put client interests first. By helping investors identify asset managers who have committed to high standards of professional conduct, we are building the integrity of the investment industry.
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Global ESG Disclosure Standards for Investment Products
The Global ESG Disclosure Standards for Investment Products are the first global voluntary standards for disclosing how an investment product considers ESG issues in its objectives, investment process, and stewardship activities.
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Pension Trustee Code of Conduct
CFA Institute Pension Trustee Code of Conduct sets the standard for ethical behaviour for a pension plan’s governing body. Voluntary adoption promotes professional excellence among a pension plan’s trustees and trust among the plan’s stakeholders.
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Endowment Code of Conduct
CFA Institute Investment Management Code of Conduct for Endowments, Foundations and Charitable Organisations outlines ethical responsibilities for the sound management of longer term financial assets.
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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.
Annual Commitment to the Code and Standards
All CFA charterholders are required to annually attest to compliance with the CFA Institute Code and Standards. The Code and Standards are updated regularly, ensuring they remain the ethical benchmark for the investment profession globally.
Ethics Microlearning
Expertise is honed through practical application. CFA Institute offers regular opportunities, such as through the Ethics in Practice series, for charterholders to practice ethical decision-making skills, expand their knowledge, and share best practices among the global CFA Institute community. Download the Ethics in Practice casebook of 100 cases to ready, study, and learn.
How we live and breathe Ethics
Ethical Decision-Making Workshop for your Organisation
We facilitate Ethical Decision-Making Workshops, designed to help organisations set high ethical standards and raise employee confidence in resolving ethical dilemmas.
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Global Ethics Day | 16 October 2024
Global Ethics Day is a global teach-in designed as an opportunity for institutions to explore the role of ethics in a globalised world.
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