ethics

the ethics is kind of common sense:

• don't guarantee any performance of your investments in any form
• don't accept any gift that could reasonably be considered to compromise your integrity or your loyalty to your company or make you consider one client over another
• don't front run trades for yourself or family members ahead of your clients (family members who are clients, however, should be treated like any other client)
• don't deprive your company of your services
• if you accept outside work, get approval from your company first
• if you supervise people, you are responsible for their actions - make sure they adhere to the same standards you set yourself
• don't let your research be compromised - if you are paid to conduct research, disclose the relationship
• don't get involved in IPO's for any kind of personal gain
• don't mess with the market or allow others to do the same e.g. buying and selling a stock to increase volume of trade artificially
• you should consider the suitability and appropriateness of investments for your clients through consultation and discussion with them
• CFA is an adjective not a noun
• you cannot claim any superiority for having passed the CFA in the minimum amount of time or because you hold the charter
• Don't misuse the logo for CFA - it cannot be part of a company name
• GIPS is an investment standard that primarily focuses on how investment managers report earnings; do not cherry pick performance of investments but give representative composites within sectors; do not omit accounts which were ended before the presentation date
• Firms can be independently verified as being GIPS compliant but this is not required and must be for the whole firm and not just some funds/accounts
• History of investments should be for five to ten years
• Real estate is a special case
• Basically, if it feels wrong, it probably is.