TD adopts CFA conduct code

TD Asset Management joins the list of Canadian firms that comply with the CFA Asset Manager Code of Professional Conduct.

Others include CIBC Global Asset Management, Mawer Investment Management, Kinsale Private Wealth and GLC Asset Management Group. More than 650 firms in 20 countries have registered.

The code outlines ethical and professional responsibilities of firms managing assets for clients, and requires managers commit to the following:

• To act in a professional and ethical manner at all times
• To act for the benefit of clients
• To act with independence and objectivity
• To act with skill, competence, and diligence
• To communicate with clients in a timely and accurate manner
• To uphold the rules governing capital markets

CFA says the code provides investors a benchmark of ethical conduct they should expect from asset managers.

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“The time has come for all investment firms to take responsibility for restoring trust in the profession,” says Kurt Schacht, managing director of the Standards and Financial Market Integrity division of CFA Institute. “We encourage all investment firms that meet these standards to demonstrate their integrity and adopt the code.”

TD’s move comes shortly after John Rogers, president and CEO of CFA Institute, issued a call to action to the global investment community. He says, “Our firms will thrive if we offer services that truly help clients.”

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