Standards of professional conduct

Including 7 standards with 22 multiple sub-sections

I. Professionalism

A. Knowledge of the law
B. Independence & objectivity
C. Misrepresentation
D. Misconduct

II. Integrity of capital market

A. Material nonpublic information
B. Market manipulation

III. Duties to clients

A. Loyalty, prudence & care
B. Fair dealing
C. Suitability
D. Performance Presentation
E. Preservation of Confidentiality

IV. Duties to employers

A. Loyality
B. Additional compensation arrangement
C. Responsibilities of supervisors

V. Investment analysis, recommendations & actions

A. Diligence & reasonable basis
B. Communication with clients & prospective clients
C. Record retention

VI. Conflicts of interest

A. Disclosure of conflicts
B. Priority of transaction
C. Referral fees

VII. Responsibilities as a CFA Institute member or CFA candidate

A. Conduct as member & candidate in the CFA program
B. Reference to CFA I, the CFA Designation & the CFA Program

Code of Ethic

• Act with integrity, competence, diligence, respect & in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession & other participants in the global capital market.
• Place the integrity of the investment profession & the interests of clients above their own personal interests
• Use reasonable care & exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions & engaging in other professional activities
• Practice & encourage others to practice in a professional & ethical manner that will reflect credit on themselves & the profession.
• Promote the integrity of, & uphold the rules governing, capital market
  
• Maintain & improve their professional competence & strive to maintain & improve the competence of their investment professional

Update 29th Oct 09: With suggestion from here, the six components could be re-ordered for easier remembering.

PEJMAR

P - Priority: Place the integrity of the investment profession & the interests of clients above their own personal interests

E - Encouragement: Practice & encourage others to practice in a professional & ethical manner that will reflect credit on themselves & the profession.

J - Judgment: Use reasonable care & exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions & engaging in other professional activities

M - Maintain: Maintain & improve their professional competence & strive to maintain & improve the competence of their investment professional

A - Action: Act with integrity, competence, diligence, respect & in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession & other participants in the global capital market.

R - Rules: Promote the integrity of, & uphold the rules governing, capital market