IV(A): Loyalty

CFA Institute Standards of Professional Conduct Standard IV(A): Loyalty would be violated by:

Correct. A member may not engage in independent practice that competes with his or her employer unless the employer has agreed to all of the terms of the arrangement.

No. A member may act in the best interests of the market or clients in opposition to his or her employer’s instructions or interests.

Incorrect. A member must place his or her client’s best interests ahead of the member's or employer's best interests.

engaging in competitive independent practice.

whistleblowing about an unethical activity by one’s employer.

refusing employer instructions to sell inappropriate investments to clients.