Samenvatting
Summary Full summaries of the 2023 CAIA level 2 content
Excellent summaries, passed the exam in march 2023. CAIA level 2 summaries.
[Meer zien]Voorbeeld 3 van de 23 pagina's
Voorbeeld 3 van de 23 pagina's
In winkelwagengesponsord bericht van onze partner
Verkoper
Volgen
Voorbeeld van de inhoud
Topic 2: ESG. Regulation and Ethics2.1 Code of conduct
The CFA Institute Asset Manager Code outlines the ethical and professional responsibilities of
firms (“Managers”) that manage assets on behalf of clients. Managers must:
1. Act in a professional and ethical manner at all times.
2. Act for the benefit of clients.
3. Act with independence and objectivity.
4. Act with skill, competence, and diligence.
5. Communicate with clients in a timely and accurate manner.
6. Uphold the applicable rules governing capital markets.
The Code does not require firms to include a claim of compliance on marketing materials. If the
firm claims compliance with the GIPS standards and the Code, the firm is not required to
include a claim of Code compliance on GIPS-compliant performance.
2.1.1 Loyalty to clients
Managers should;
1- Place client interests before their own
2- Preserve the confidentiality of information communicated by clients within the scope of
the Manager–client relationship
, 3- Refuse to participate in any business relationship or accept any gift that could
reasonably be expected to affect their independence, objectivity, or loyalty to clients
2.1.2 Investment process and actions
Managers should;
1- Use reasonable care and prudent judgment when managing client assets
2- Not engage in practices designed to distort prices or artificially inflate trading volume
with the intent to mislead market participants
3- Deal fairly and objectively with all clients when providing investment information,
making investment recommendations, or taking investment action
4- Have a reasonable and adequate basis for investment decisions
2.1.3 Trading
Managers should;
1- Not act or cause others to act on material nonpublic information that could affect the
value of a publicly traded investment
2- Give priority to investments made on behalf of the client over those that benefit the
Managers' own interests
, 3- Use commissions generated from client trades to pay for only investment related
products or services that directly assist the Manager in its investment decision-making
process, and not in the management of the firm
4- Maximize client portfolio value by seeking best execution for all client transactions
5- Establish policies to ensure fair and equitable trade allocation among client accounts
2.2 Financial market regulation
The primary regulators for entities and individuals engaged in the securities and investment-
related activities in the US are the Securities and Exchange Commission (SEC), Financial Industry
Regulatory Authority (FINRA), state securities agencies, the US Commodity Futures Trading
Commission (CFTC), and the National Futures Association (NFA).
The SEC oversees the key participants in the US securities markets, including securities
exchanges, securities brokers and dealers, investment advisers, and mutual funds. As the primary
overseer and regulator of the US securities markets, the SEC’s responsibilities include: protecting
investors; maintaining fair, orderly, and efficient markets; and facilitating capital formation.
The SEC disclosure regime includes principles-based disclosure requirements, which are intended
to provide investors with the material information they need about companies and their
securities offerings to make informed investment decisions.
• Financial Industry Regulatory Authority (FINRA): Overseen by the SEC, FINRA is a
nongovernmental, self-regulatory organization (SRO) that supervises and regulates the
broker-dealer industry to ensure that it operates fairly and honestly, including writing and
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper martinvandermersch. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €40,49. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 52510 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen