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Study Notes for CFA® Level III – Ethical and Professional Standards – offered by AnalystPrep

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Study Notes for CFA® Level III – Ethical and Professional Standards – offered by AnalystPrep

25 Nov 2023

Reading 29: Code of Ethics and Standards of Professional Conduct

Los 29 a: Describe the structure of the CFA Institute Professional Conduct Program and the disciplinary review process for the enforcement of the CFA Institute Code of Ethics and Standards of Professional Conduct

Los 29 b: Explain the ethical responsibilities required by the Code and Standards, including the sub-sections of each standard.

Reading 30: Guidance for Standards I–VII

Guidance for Standards I–VII

Reading 31: Application of the Code and Standards

Application of the Code and Standards

Reading 32: Asset Manager Code of Professional Conduct

Los 32 a: Explain the purpose of the Asset Manager Code and the benefits that may accrue to a firm that adopts the Code

Los 32 b: Explain the ethical and professional responsibilities required by the six General Principles of Conduct of the Asset Manager Code

Los 32 c, d: Asset Manager Code

Reading 33: Global Investment Performance Standards

Los 33 a: Discuss the objectives and scope of the GIPS standards and their
benefits to prospective clients and investors, as well as investment managers

Los 33 b: Discuss requirements of the GIPS standards with respect to return calculation methodologies, including the treatment of external cash flows, cash and cash equivalents, and expenses and fees

Los 33 c: Explain the recommended valuation hierarchy of the GIPS standards

Los 33 d: Explain requirements of the GIPS standards with respect to composite return calculations, including methods for asset-weighting portfolio returns

Los 33 e, f: Composites: Identifying Eligible Portfolios and Establishing Investment Strategies

Los 33 g: Explain requirements of the GIPS standards with respect to composite construction, including switching portfolios among composites, the timing of the inclusion of new portfolios in composites, and the timing of the exclusion of terminated portfolios from composites

Los 33 h: Explain requirements of the GIPS standards with respect to presentation and reporting

Los 33 i: Explain the conditions under which the performance of a past firm or affiliation may be linked to or used to represent the historical performance of a new or acquiring firm

Los 33 j: Discuss the purpose, scope, and process of verification

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The General Principles of Conduct and the Asset Manager Code of Professional Conduct

Asset Manager Code

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