The Integrity List

Here are some actions you can take, inspired by real-world ideas from CFA® charterholders and members. Download

Commit: It Starts With You

  • Commit to the Code of Ethics and Standards of Professional Conduct.
  • Name and shame unethical behavior.
  • Strive for a conflict-free business model.
  • Act with integrity 24/7 – not just at the office.
  • Act with fairness and prudence with every decision.
  • Adhere to high standards even if they are not required in your country.
  • Take responsibility for the actions of your team.
  • Mentor future investment industry professionals.
  • Adopt the Global Investment Performance Standards.
  • Refuse to associate with anyone who takes advantage of clients.
  • Become a member of CFA Institute and sign the required annual ethics statement.

Inspire: Be an Ethical Leader

  • Never overlook unethical behavior because you're better served by ignorance.
  • Vocally demand that your firm does what is right for clients.
  • Encourage young professionals to have the courage to disagree.
  • Lead by example with your firm and colleagues.
  • Write articles and speak publicly about ethics.
  • Promote the concept of earning money rather than making money.
  • Create an ethical work culture that allows constructive criticism.
  • Bring an ethical dimension to discussions of business strategy.
  • Remind junior associates that reputations are hard earned and easily lost.
  • Use social media to comment about the values you uphold.
  • Act as an expert resource for journalists.

Engage: Develop Trustworthy Relationships

  • Place the client's interests before your own.
  • Help clients focus on risk as much as they do on performance.
  • Keep client fees fair.
  • Present analysis based on facts and client needs.
  • Always be honest with clients.
  • Never engage in misleading sales promotions.
  • Recommend companies with fair practices and good corporate governance.
  • Tip the balance between competing interests in favor of clients.
  • Maintain regular contact with clients.
  • Listen to clients' concerns and fears.

Communicate: Be Transparent

  • Recommend products with transparent payoffs, costs, and risks.
  • Be transparent with clients when something goes wrong.
  • Actively disclose all compensation arrangements to clients.
  • Outline exactly how you are managing a client's funds.
  • Disseminate transparent, accurate, and timely information.
  • Be clear about situational influences in your environment.
  • Disclose information in ways even novice investors can understand.
  • Openly share bad news with all who are affected.

Learn: Build Your Knowledge

  • Require training on ethical decision-making for yourself and your firm.
  • Disclose your educational achievements and how you improve professional competence.
  • Base investment recommendations on strong analysis.

Advocate: Shape a Better System

  • Advocate for stronger regulations that protect investors.
  • Elevate the importance of integrity in the hiring process.
  • Adopt the CFA Institute Asset Manager Code.
  • Bring to justice those who take part in irresponsible and illegal activities.
  • Advocate for technology that makes the industry more transparent.
  • Engage and build relationships with local regulators and policy makers.
  • Serve on committees that advocate for regulatory reform.

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