All members (CFA charterholders, regular members, affiliate members) and candidates in the CFA and CIPM programs must regularly submit a Professional Conduct Statement (PCS) (PDF) disclosing any investigations, litigations, arbitrations, complaints, disciplinary proceedings, and/or other matters relating to their professional conduct.
Members submit the PCS when they initially join and then annually as part of the membership renewal and dues payment process. Candidates submit a PCS each time they register for the CFA exam.
A member or candidate who discloses a professional conduct matter on the PCS receives a Notice of Investigation requesting specific information about the professional conduct matter disclosed.
Failure to complete and submit the PCS will result in suspension of CFA Institute membership and/or the right to use the CFA designation or, for candidates, prohibition from the CFA examination program. Failure to disclose a reportable matter or misrepresenting information on a professional conduct statement is a violation of the Code of Ethics and Standards of Professional Conduct and grounds for disciplinary action.
Uncertain whether an incident or matter requires disclosure on the PCS?
Contact the Professional Conduct Program.