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CFA Level I · CFA Level I Exam · Guidance for Standard VI: Conflicts of Interest

Which of the following changes was made to the Standards of Professional Conduct in the 2023 revisions affecting conflicts of interest?

The Board renamed Standard VI(A) "Avoid or Disclose Conflicts" and revised it to require members to either avoid or disclose conflicts. Previously the standard mentioned only disclosure. No consent requirement was added, and Standard I(E) concerns competence.

  1. AStandard VI(A) was renamed "Avoid or Disclose Conflicts" and now mentions avoidanceCorrect
  2. BStandard VI(A) was removed and merged into Standard I(E)
  3. CStandard VI(A) now requires written client consent for every conflict

Explanation

In 2023 the Board renamed Standard VI(A) "Avoid or Disclose Conflicts" and revised it to require avoiding or disclosing conflicts, where previously avoidance was not mentioned. Standard I(E) is a new competence standard, and no blanket consent requirement was added.

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