Ethical and Professional Standards
Reading 1. Ethics and Trust in the Investment Profession
Learning Outcome Statements
f. describe and apply a framework for ethical decision making.
CFA Curriculum, 2020, Volume 1
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Subject 6. Ethical Decision-Making Frameworks
Neither a linear model nor a checklist, the framework provides a summary of the key elements of making ethical decisions. The framework is offered with the understanding that there likely will be additional influences, conflicts, and actions unique to each ethical scenario and beyond those detailed in the framework.
Identify: ethical principles, duties to others (to whom do you owe a duty?), important facts, conflicts of interest.
Consider: situational Influences, alternative actions, additional guidance.
Act: make a decision or elevate the issue to a higher authority.
Reflect: What did you learn? The lessons you learn will help you reach ethical decisions more quickly in the future.
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