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About the Author
THOMAS WANG is president of Junwei, a firm dedicated to provide innovative and effective educational and training solutions for business and finance professionals. He formerly worked at Deloitte Touche Tohmatsu in three cnal companies on cross-border investments. He received his MBA from New York University, and also holds a Master's degree in accounting. He is a CFA charterholder and a Certified Management Accountant (CMA).
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Level 1 Session 1
Junwei Illustrated CFA Study Notes
Ethical and Professional Standards
Thomas Wang, CFA
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Reading Assignments
Standards of Practice Handbook, edition (AIMR, 1999) Standards of Practice Handbook, 8th edition (AIMR, 1999) "Preface" and pp. 9–159 and 265-283 (AIMR, 1999)
Got a question? Go to Junwei Forums!
The Code of Ethics: Highlights
Members shall: 1. Act with integrity, competence, ethics and dignity when dealing with:
Level 1 2005
Contents
Study Session 1: Ethics
1. 2. 3. 4. Code of Ethics Standards of Professional Conduct Disciplinary Procedures and Sanctions Global Investment Performance Standards – Level I Workbook, and Global Investment Performance Standards
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Level 1 2005
About Junwei Illustrated Study Notes
Although created as PowerPoint slides, Junwei Notes are NOT presentation outlines. We use PowerPoint just for easier reading – the bulletpoint format, colors, larger fonts, graphs and charts, etc. Junwei Notes cover all learning objective statements assigned by CFA Institute in sufficient detail.
The Code of Ethics: A Graphical Illustration
Within Firms
Im pr ov eC om pe te nc e
Profession
(Fellow members)
Junwei Illustrated CFA Study Notes – 2005 Level 1 Book 1
Copyright 2004 by Thomas Wang Published by Junwei ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the publisher. Unauthorized duplication of this publication is a violation of copyright laws and the CFA Institute Code of Ethics. CFA Institute does not endorse, promote, review, or warrant the accuracy of the products or services offered by Junwei or verify or endorse the pass rates claimed by Junwei. CFA and Chartered Financial Analyst are trademarks owned by CFA Institute. ISBN 1-933273-00-3 TRADEMARKS All terms mentioned in this book that are known to be trademarks or service marks have been appropriately capitalized. Use of a term in this book should not be regarded as affecting the validity of any trademark or service mark.
General public (including clients and prospects) Employers and employees Fellow members
Level 1 Session 1 Ethics
2. Practice in a professional and ethical manner. 3. Maintain and improve the competence of:
LOS 1
Copy Right 2004 Thomas Wang, CFA
How to make a better living?
Sharpen your tools! – Competence.
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"Code of Ethics"
Got a question? Go to Junwei Forums!
Got a question? Go to Junwei Forums!
The Code of Ethics:
It's All about How to Be a Good Professional!
What people want from you?
A honest and ethical person who can get the job done.
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Level 1 2005
Contents (Cont'd)
Study Session 12: Portfolio Management
1. 2. 3. 4. The Investment Setting The Asset Allocation Decision An Introduction to Portfolio Management An Introduction to Asset Pricing Models
Integrity, competence, and being ethical. Within the firm, your boss and your subordinates. Outside of the firm, AIMR (the profession) and the public (including clients and prospects).
Copy Right 2004 Thomas Wang, CFA

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"Code of Ethics"
Level 1 Session 1 Ethics
Copy Right 2004 Thomas Wang, CFA

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"Code of Ethics"
Level 1 Session 1 Ethics
"Code of Ethics," pp. 1
"Standards of Professional Conduct," pp. 2–7
Standards of Practice Handbook, 8th edition,
* "Global Investment Performance Standards – Level I Workbook" (AIMR, 2002) * Global Investment Performance Standards (AIMR, 1999)
Themselves Fellow members
LOS 1
Copy Right 2004 Thomas Wang, CFA
4. Use reasonable care and exercise independent professional judgment.