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Ethical and professional standards and quantitative methods CFA program curriculum 2016 volume 1

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Описание

CONTENT

How to Use the CFA Program Curriculum ix

Curriculum Development Process ix

Organization of the Curriculum x

Features of the Curriculum x

Designing Your Personal Study Program xi

Feedback sail

Ethical and Professional Standards

Study Session 1 Ethical and Professional Standards 3

Reading 1 Code of Ethics and Standards of Professional Conduct 5

Preface 5

Evolution of the CFA Institute Code of Ethics and Standards of

Professional Conduct 6

Standards of Practice Handbook 6

Summary of Changes in the Eleventh Edition 7

CFA Institute Professional Conduct Program 9

Adoption of the Code and Standards 10

Acknowledgments 10

Ethics and the Investment Industry 11

Why Ethics Matters 11

CFA Institute Code of Ethics and Standards of Professional Conduct 15

Preamble 15

The Code of Ethics 16

Standards of Professional Conduct 16

Reading 2 Guidance for Standards l-VH 21

Standard I: Professionalism 21

Standard 1(A) Knowledge of the Law 21

Guidance 21

Recommended Procedures for Compliance 26

Application of the Standard 27

Standard l{B) Independence and Objectivity 30

Guidance 30

Recommended Procedures for Compliance 35

Application of the Standard 36

Standard l(C) Misrepresentation 43

Guidance 43

Recommended Procedures for Compliance 46

Application of the Standard 48

Standard l(D) Misconduct 53

Guidance 53

Recommended Procedures for Compliance 54

Application of the Standard 54

Standard II: Integrity of Capital Markets 56

Standard 11(A) Material Nonpublic Information 56

Guidance 56

Recommended Procedures for Compliance 60

Application of the Standard 63

Standard 11(B) Market Manipulation 68

Guidance §g

Application of the Standard 69

Standard III: Duties to Clients 73

Standard lll(A) Loyalty, Prudence, and Care 73

Guidance 73

Recommended Procedures for Compliance 77

Application of the Standard yg

Standard lll(B) Fair Dealing 82

Guidance 82

Recommended Procedures for Compliance 84

Application of the Standard 86

Standard 111(C) Suitability 90

Guidance 90

Recommended Procedures for Compliance 93

Application of the Standard 94

Standard lll(D) Performance Presentation 97

Guidance 97

Recommended Procedures for Compliance 98

Application of the Standard 98

Standard 111(E) Preservation of Confidentiality Ю1

Guidance Ю1

Recommended Procedures for Compliance 1Q3

Application of the Standard 103

Standard IV: Duties to Employers Ю5

Standard IV{A) Loyalty Ю5

Guidance 105

Recommended Procedures for Compliance 109

Application of the Standard %q9

Standard IV(B) Additional Compensation Arrangements 116

Guidance ц6

Recommended Procedures for Compliance 115

Application of the Standard 116

Standard IV(C) Responsibilities of Supervisors 11 g

Guidance Hg

Recommended Procedures for Compliance 120

Application of the Standard 122

Standard V; Investment Analysis, Recommendations, and Actions 126

Standard V(A) Diligence and Reasonable Basis 126

Guidance 126

Recommended Procedures for Compliance 130

Application of the Standard 130

Standard V(B) Communication with Clients and Prospective Clients 137

Guidance

ecommended Procedures for Compliance Application of the Standard Standard V(C) Record Retention Guidance

Recommended Procedures for Compliance Application of the Standard Standard VI: Conflicts of Interest

Standard VI(A) Disclosure of Conflicts Guidance

Recommended Procedures for Compliance Application of the Standard Standard VI(B) Priority ofTransactions Guidance

Recommended Procedures for Compliance Application of the Standard Standard VI(C) Referral Fees Guidance

Recommended Procedures for Compliance Application of the Standard

Standard VII: Responsibilities as a CFA Institute Member or CFA Candidate Standard Vli(A) Conduct as Participants in CFA Institute Programs Guidance

Application of the Standard

Standard Vli(B) Reference to CFA Institute, the CFA Designation, and the CFA Program Guidance

Recommended Procedures for Compliance Application of the Standard Practice Problems Solutions
introduction to the Global Investment Performance Standards (GIPS)

Why Were the GIPS Standards Created?

Who Can Claim Compliance?

Who Benefits from Compliance?

Composites

Verification

The Structure of the GIPS Standards

The GIPS Standards S Preface

B History Introduction

Preamble—Why Is a Global investment Performance Standard Needed?

Objectives

Overview

Historical Performance Record Compliance