Which standard of ethics is foundational to the CFA Program?

The CFA Institute Code of Ethics and Standards of Professional Conduct serves as the foundational framework for ethical behavior within the CFA Program. These standards are designed to uphold the integrity of the finance profession and ensure that investment professionals act in the best interests of their clients, the market, and the wider community.

This ethical framework is integral to the CFA curriculum and plays a crucial role in guiding the conduct of CFA charterholders. It establishes clear expectations regarding the responsibilities of finance professionals, covering principles such as professionalism, integrity, and transparency. Adhering to these standards helps maintain public confidence in the capital markets and promotes the ethical practice of finance.

In contrast, the other choices, while they represent important guidelines and standards in the finance and accounting fields, do not embody the core ethical principles underpinning the CFA Program. GAAP and IFRS are accounting standards that dictate how financial statements should be prepared but do not focus specifically on ethics. Similarly, FINRA guidelines pertain to the conduct of member brokerage firms and their representatives but are distinct from the ethical standards that guide the CFA Program.