Ethics for the Investment Management Profession

What makes businesses and financial markets thrive? How do we earn investor confidence? The answer is trust. Trust can only be built through ethical behavior and an industry-wide commitment to values like transparency, integrity, candor, and putting investors first. Since its origin, CFA Institute has championed ethics in the investment profession, setting the highest possible ethical standards for professionals around the globe. 

Ethical behavior goes beyond simply following laws and established rules. It is about knowing how to navigate ambiguous ethical situations and put the interests of investors first when the rules are unclear. In addition to the globally recognized CFA Institute Code of Ethics and Standards of Professional Conduct, CFA Institute offers lifelong learning opportunities to guide investment professionals with ethical decision making and practices throughout every stage of their careers.


Putting the Code and Standards into Practice

The Code of Ethics and Standards of Professional Conduct (Code and Standards) are the ethical benchmark for investment professionals around the globe.

As a CFA Institute member, CFA Program candidate, or CIPM Program candidate you are required to follow the Code and Standards.


Code and Standards

View the current Code and Standards (PDF) here.

Ethics &


Read more on CFA Institute’s Ethics & Standards here.