Asset Manager Code of Professional Conduct, Second Edition (with Recommended Guidance)

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Codes, Standards and Position Papers
June 2009 | Vol. 2009 | No. 8 | 21 pages
Source: CFA Institute
Kurt N. Schacht, JD, CFA Jonathan J. Stokes, JD Glenn Doggett, CFA



The Asset Manager Code of Professional Conduct (the Code) is intended to help investment managers provide services in a professional and fair manner, and to make full disclosure of key items. The body of standards specifies the general responsibilities of managers in six broad categories: (1) loyalty to clients, (2) investment process and actions, (3) trading, (4) risk management, compliance, and support, (5) performance reporting and valuation, and (6) disclosures. In addition, the document offers guidance for all of its proposed requirements.

The second edition of the Code contains two particularly timely and meaningful enhancements. There are new sections addressing managers’ responsibility for establishing and disclosing an organization’s risk management process and information to guide managers as they adopt or claim compliance with all principles of the Code. View further details on how to adopt or claim compliance with the Code and submit the acknowledgement form to CFA Institute; visit our web site for additional resources related to the Code.

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