This module brings ethics to life through realistic scenarios and case studies that apply the Code and Standards. You'll practice identifying violations, applying ethical reasoning, and making judgment calls in complex situations. It’s all about turning ethical principles into confident, day-to-day decision-making.

This module introduces the Global Investment Performance Standards (GIPS), a set of voluntary, ethics-based principles that promote fair and transparent reporting of investment results. You'll learn why GIPS exist, who uses them, and how they help clients compare performance across firms by standardizing calculations, disclosures, and presentation practices.

Standard VII reinforces the duty to uphold the reputation and integrity of the CFA designation. It requires members and candidates to comply with the Code and Standards, avoid any conduct that could harm the CFA Institute, and never misrepresent the meaning or implications of earning or pursuing the CFA charter.

Standard VI addresses the importance of identifying and managing conflicts of interest that could compromise objectivity. It requires full and fair disclosure of any potential conflicts—especially those involving ownership, compensation, or referral arrangements—so that clients and employers can make informed decisions with confidence.

Standard V focuses on maintaining the integrity and quality of investment research and decisions. It requires professionals to base analyses on thorough due diligence, clearly communicate investment recommendations and risks, and retain records that support the investment process. The standard ensures transparency and accountability in all investment actions.

Standard IV outlines the responsibilities investment professionals have toward their employers. It covers the duty of loyalty, maintaining competence, and acting with integrity while on the job. It also addresses proper conduct when leaving a firm and the importance of not misusing employer resources or confidential information.

Standard III emphasizes the fiduciary responsibility investment professionals owe to their clients. It outlines duties such as loyalty, prudence, and care; ensuring fair dealing; preserving confidentiality; and providing suitable, objective advice. This standard reinforces that clients’ interests must always come first.

Standard II protects the fairness and transparency of global capital markets. It focuses on two key areas: Material Nonpublic Information—ensuring analysts don’t misuse inside information—and Market Manipulation—prohibiting practices that distort prices or trading volume. The goal: promote investor confidence by keeping markets level and trustworthy.