Standard II(B) – Market Manipulation
CFA Institute members and candidates are prohibited from engaging in tactics that artificially increase trading volume to deceive market participants under the Integrity of Capital Markets, Market Manipulation policy. Application 1: Manipulation of Model Inputs Andy Knoxville is the head…
Standard II(A) – Material Non-Public Information
CFA Institute members and candidates should not act on material nonpublic information in their possession or cause others to act on it. If the publication of information will affect the price of a security or if reasonable investors would wish…
Standard 1(D) – Misconduct
Members and Candidates shall not engage in any professional activity that involves dishonesty, fraud, or deception or act in a way that harms their professional reputation, integrity, or competence. This does not apply to legal violations stemming from acts of…
Standard 1(C) – Misrepresentation
Members and Candidates must not make any false statements about investment analysis, recommendations, actions, or other professional activity with the intent to deceive. Members and candidates are prohibited from making any claims that promise or guarantee a certain rate of…
Standard 1(B) – Independence and Objectivity
Members and Candidates must exercise reasonable caution and discretion in their professional actions to establish and preserve independence and objectivity. They are prohibited from offering, soliciting, or accepting any gift, benefit, remuneration, or other inducement that could reasonably be considered to…
Standard 1(A) – Knowledge of the Law
At the end of this reading, you should be able to: Members and Candidates must follow and understand all applicable laws, rules, and regulations (including CFA Institute Code and Standards) of any government, regulatory body, licensing agency, or professional association…
GIPS Verification
Verification refers to the process by which a firm claiming compliance with GIPS requirements hires an independent third party to evaluate its processes and corroborate the firm’s assertions. Despite the fact that verification is a recommendation rather than a requirement…
Fundamentals of Compliance
The GIPS standards must be applied on a firm-wide basis. There are two important issues that must be considered by a firm when it complies with the GIPS standards: Master compliance fundamentals with our Free Trial. Definition of Firm under…
GIPS Composites
A primary aspect of GIPS is to require composites, which are aggregate portfolios managed with a similar investment approach. Therefore, if a firm presents its record for a particular equity classification, all portfolios meeting pre-established criteria for that class must…
Concepts of the GIPS Standards for Firms
The following are the key concepts of the GIPS standards that apply to firms: GIPS are ethical standards for an investment performance presentation to ensure fair representation and full disclosure of investment performance. In order to claim compliance, firms must…
