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CFA Level I · CFA Level I Exam · Ethics and Trust in the Investment Profession

According to the Preamble to the CFA Institute Code of Ethics and Standards of Professional Conduct, the personal responsibility to embrace and uphold the Code and Standards rests most likely with:

All CFA Institute members, including CFA charterholders, and all CFA candidates carry the personal responsibility to embrace and uphold the Code and Standards. The duty is not confined to charterholders or portfolio managers, and it is not transferred to the employer.

  1. Athe employer of each CFA Institute member
  2. Ball CFA Institute members and CFA candidatesCorrect
  3. Conly holders of the CFA designation who manage client assets

Explanation

The Preamble states that all CFA Institute members (including CFA charterholders) and CFA candidates have the personal responsibility to embrace and uphold the Code and Standards. It is not limited to charterholders or those managing client assets, and it is not the employer's responsibility.

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