To protect the integrity of CFA Institute membership, designations, and exam programs, CFA Institute upholds the Code of Ethics and Standards of Professional Conduct (Codes and Standards), all exam rules and regulations, and the Bylaws.
The Professional Conduct Program administers the disciplinary process for CFA Institute.
New Sanction Guidelines and Revised Rules of Procedure
In 2017, CFA Institute proposed new Sanction Guidelines and significant revisions to the 2015 Rules of Procedure: summary of changes proposed (PDF).
Subsequent to considering the member comments received, the Board of Governors approved the new Sanction Guidelines and the Rules of Procedure, effective 1 December 2017.
The Professional Conduct Statement
Every member must complete a Professional Conduct Statement annually to disclose any potential violations of the Code and Standards. Candidates make similar disclosures as part of the registration and enrollment process.
Learn more about the Professional Conduct Statement
The Disciplinary Process
Our process includes monitoring compliance, investigating allegations, conducting disciplinary proceedings, and imposing sanctions if necessary.
Learn about how the Professional Conduct Program handles allegations
Sanctions and Statistics
We track and report disciplinary information as a service to our stakeholders.
Learn about different types of sanctions and view statistics on reported allegations
Submit a Complaint
You can help to protect the integrity of CFA Institute membership and designations by reporting conduct that does not meet our standards.
Find out how to submit a complaint