×
  • We have updated our Privacy Policy (including our Cookies Policy). Please read them carefully. By using this website you are agreeing to the terms of our new Privacy Policy.

    Read the updated Privacy Policy

Rules of Procedure

The Rules of Procedure for Professional Conduct (Rules) and CFA Institute Bylaws provide guidance for conducting investigations into allegations, determining violations, imposing sanctions, conducting disciplinary proceedings, and disclosing violations.

Periodically we review the Rules of Procedure, propose revisions to the Rules, invite member comment, and submit the proposed revisions to the Board of Governors for consideration.

Current Rules of Procedure

Effective 1 December 2017, the Board of Governors approved the Rules of Procedure as amended and restated below:

Rules of Procedure: Professional conduct matters

Read the rules (PDF)

Rules of Procedure: Exam-related matters

Read the rules (PDF)

Revisions to the Rules of Procedure

In 2017, CFA Institute proposed significant revisions to the 2015 Rules of Procedure.

Learn more about the changes and comments received (PDF)

View the Rules of Procedure: Matters Related to Professional Conduct - redlined (PDF)

View the Rules of Procedure: Exam-Related Matters - redlined (PDF)

Applicable Rules for Individuals Under Investigation

Individuals under investigation for industry-related conduct who have not received a Statement of Allegations from the Professional Conduct Program prior to the effective date of the new Rules may choose to proceed under either their applicable Rules or the new Rules.

Any matter related to professional conduct for which the Professional Conduct Program has issued a Statement of Allegations prior to the effective date of the new Rules will proceed under their applicable Rules.

Learn more about the disciplinary process

We’re using cookies on this site to give you a better experience. You can turn them off in Privacy Settings or learn more in our Privacy Policy. If you use the site without changing settings, you are agreeing to our use of cookies.