文档介绍：CharteredFinancialAnalystCFA一级知识点总结最全李伟CFA一级知识点总结Ethics部分Objectiveofcodesandstandard:永远是为了maintainpublictrustinFinancialmarketInvestmentprofession6个codeofethicsCode1—ethicsandpertinentdpersonsCode2---primacyofclient’sinterestIntegritywithinvestmentprofession用户利益高于本身利益Code3---reasonableandindependent必需注意reasonablecare必需exerciseindependentprofessionaljudgment---必需独立判定!Code4---ethicalcultureintheprofession不仅自己要practice,而且要激励她人practice—不仅仅是自己一个人去做,要全部些人共同去做Code5---ethnicalcultureinthecapitalmarket!促进整个capitalmarketintegrity,推广其相关法规---增强公众对资本市场trust!Capitalmarket是基于Fairlypricingofriskyassets;Investors‘petence—能力---competence7个standardofprofessionalconductStandard1---professionalism---knowledgeoflaw不需要成为法律教授,plywithapplicablelaw;当两个law发生conflict,则要遵守愈加严格法律!Knowingly---knoworshouldknow必需attempttostoptheviolation,假如不能stop,thenmustdissociatefromtheviolation!必需从其中分离出去!Removenamefromthewrittenreport;Askforadifferentassignment并不要求向相关部门report!(donotrequire)向CFA进行书面汇报report--encouragedtosoStandard1---professionalism---integrityofcapitalmarketBiasfromclientorothergroups—pany,controllingshareholder!BiasfromsellsideanalystBuyersideclient—Issuerpaidreport---只能接收flatfeefortheirworkStandard1---professionalism---misinterpretation—不能误导用户,不能剽窃其它人研究结果Standard1---professionalism---misconduct---Standard2---integrityofcapitalmarket不能使用非公开信息!---materialnonpublicinformation---mosaictheory---conclusionfromanalysisofpublicandnon-materialnonpublicinformationstandard3—dutiestoclientsLoyalty,prudenceandcare---怎样定义用户?---考虑最终受益人!---雇佣我们人未必就是我们用户,要考虑最终受益人!Softdollar---whenamanagerusesclientbrokeragetopurchaseresearchreporttobenefittheinvestmentmanager---比如,作为基金企业,使用证券企业席位进行交易,肯定会支付一定费用,这些费用来自用户,所以基金企业只能用这些softdollar为用户服务!Fairdealing---对全部用户要公平客观部分用户要求,能够征收premium费用以后,是能够做!条件是,mendationInvestmentaction---mendationProratedtheallocationSuitability了解用户经验,风险和回报目标要有书面目标—最少十二个月进行更新!是否和用户书面目标相符合?是否符适用户整个totalportfolio投资目标?必需了解其投资组合constraints,只能进行符合其书面目标投资推荐!Investmentpolicystatement—IPS---risktolerance,return