Ethical and Professional Standards

Reading 1. Ethics and Trust in the Investment Profession

Learning Outcome Statements

b. describe the role of a code of ethics in defining a profession;

CFA Curriculum, 2020, Volume 1

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Subject 2. Ethics and Professionalism

A profession is:

  • based on specialized knowledge and skills.
  • based on service to others.
  • practiced by members who share and agree to adhere to a common code of ethics.

A profession's code of ethics:

  • communicates the shared principles and expected behaviors of its members.
  • generates confidence not only among members of the organization but also among non-members (clients, prospective clients, and/or the general public).

A profession may adopt standards of conduct to enhance and clarify the code of ethics.

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specialized knowledge and skills ( trust)
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