CFA一级考点标准的职业行为标准.docxVIP

CFA一级考点：标准的职业行为标准　　Part Ⅱ:Standards of Professional Conduct Standards: Ⅰ-Ⅶ:　　Standard Ⅰ: Professionalism:　　Knowledge of the law--in the event of a conflict, follow the more strict law, rule, or regulation.　　※Independence an Objectivity--not to offer,solicit,or accept any gift,benefit, compensation or consideration that could be expected to compromise either their own or someone else’s independence and objectivity.　　区分Gifts from clients VS. Gifts from entities　　保证Independence and objectives时涉及到的和七个方面的关系：　　·Buy-Side Clients　　·Fund manager relationship　　·Investment Banking Relationship　　·Public Companies relationship　　·Issuer-Paid Research　　·Credit rating agency　　·Travel Funding　　Misrepresentation—Do not knowingly misrepresent facts regarding investment analysis, recommendations,actions or other professional activities.　　Misconduct—Do not engage in any professional conduct which involves dishonesty,fraud or deceit or commit any act that impinge integrity,reputation,turstworthiness,or professional competence.(最重要的是“professional-related misconduct”)　　Standard Ⅱ: Integrity of capital markets:　　Material Nonpublic Information—members in possession of nonpublic information that could affect an investment’s value must not act or cause others to act on the information(最重要的是”material”and “nonpublic” except”Mosaic Theory”)　　Market Manipulation—Do not engage in any practices intended to mislead market participants through distorted prices or artificially inflated trading volume.(最重要的是”the intent to manipulate”)　　区分：Transaction-based ManipulationVS.Information-based Manipulation　　Standard Ⅲ: Durities to clients:　　Loyalty,Prudence,and Care—Members must be loyal to clients,and must act with reasonable care and exercise prudent judgment.　　注意： Identify the actual investment client ;Develop the client’s portfolio;Soft commission policies;Proxy voting policies时都怎样保证Loyalty,Prudence,and Care.　　Fair Dealing—must deal fairly and objectively with all clients when providing investment decisi