Code of Ethics
, Standard 1: Professionalism
Standard’s Description Additional notes
name
1(A): Understand and comply with all applicable Guidance
Knowledge laws, rules, and regulations (including the ● Most strict applicable (law or
of the Law CFA Institute Code of Ethics and standards)
Standards) of any government, regulatory ● Dissociate if it is definitely illegal,
organization, licensing agency, or quit if necessary
professional association governing their ● May confront individual but must
professional activities. approach supervisor / compliance
dept
Note that: ● Seek legal counsel if in doubt
– In the event of conflict, comply with the ● Inaction may be construed as
strictest, applicable law to the situation. participation (and hence violation)
– Basically do not associate yourself with ● Not required to report violations to
law-breakers. authorities / regulatory bodies
– You must be aware of all the laws where unless required by law
you conduct business. Stating that you’re
not aware of the law, hence a violation, is ● First, notify supervisor or compliance
not an acceptable excuse. ● May confront directly
● Must know of the laws
● Don’t violate any laws - follow the
most strict applicable law
● Should report potential violations
● Resign if nothing is done about
illegal activity
● (Should) Notification of known
violations -> must report to
supervisors
● (Must) Dissociation from violation ->
resign if needed
● Not required to report to
regulatory bodies
● Responsible for any violations
knowingly participated / assisted in,
but only recommended to highlight
those they are only aware of
● Following most strict applicable law
● Reporting unethical actions
● Failure to maintain knowledge of the
law
1(B): Use reasonable care and judgment to Guidance
Independen achieve and maintain independence and ● Do not let investment process be
ce and objectivity in their professional activities. influenced externally (non-clients,
Objectivity etc.)
Must not offer, solicit, or accept any gift, ● Gifts must be disclosed; modest
benefit, compensation, or consideration gifts are fine
that reasonably could be expected to ● No personal allocation of shares in
compromise their own or another’s oversubscribed IPOs
independence and objectivity. ● No gifts meant to influence and
harm client, impair objectivity
, Standard 1: Professionalism
Standard’s Description Additional notes
name
1(A): Understand and comply with all applicable Guidance
Knowledge laws, rules, and regulations (including the ● Most strict applicable (law or
of the Law CFA Institute Code of Ethics and standards)
Standards) of any government, regulatory ● Dissociate if it is definitely illegal,
organization, licensing agency, or quit if necessary
professional association governing their ● May confront individual but must
professional activities. approach supervisor / compliance
dept
Note that: ● Seek legal counsel if in doubt
– In the event of conflict, comply with the ● Inaction may be construed as
strictest, applicable law to the situation. participation (and hence violation)
– Basically do not associate yourself with ● Not required to report violations to
law-breakers. authorities / regulatory bodies
– You must be aware of all the laws where unless required by law
you conduct business. Stating that you’re
not aware of the law, hence a violation, is ● First, notify supervisor or compliance
not an acceptable excuse. ● May confront directly
● Must know of the laws
● Don’t violate any laws - follow the
most strict applicable law
● Should report potential violations
● Resign if nothing is done about
illegal activity
● (Should) Notification of known
violations -> must report to
supervisors
● (Must) Dissociation from violation ->
resign if needed
● Not required to report to
regulatory bodies
● Responsible for any violations
knowingly participated / assisted in,
but only recommended to highlight
those they are only aware of
● Following most strict applicable law
● Reporting unethical actions
● Failure to maintain knowledge of the
law
1(B): Use reasonable care and judgment to Guidance
Independen achieve and maintain independence and ● Do not let investment process be
ce and objectivity in their professional activities. influenced externally (non-clients,
Objectivity etc.)
Must not offer, solicit, or accept any gift, ● Gifts must be disclosed; modest
benefit, compensation, or consideration gifts are fine
that reasonably could be expected to ● No personal allocation of shares in
compromise their own or another’s oversubscribed IPOs
independence and objectivity. ● No gifts meant to influence and
harm client, impair objectivity
