Ethics Question

Hi, everyone.

An idea has just crossed my mind …

If a CFA charter holder cheats on their husband or wife, does they violate Standard I(D) Misconduct? Does having an affair means that it may harm credibility and trustworthiness of a person’s professional position?

If it does affect her/his duties to clients, employers, integrity of capital markets, and other fundamental principles, it’s a misconduct.

Well obviously if you are going to cheat on your employer’s wife you need written consent first.

Exactly. Thus, if you wanna cheat and wanna be clear that isn’t an Ethics violation, the best what you can do is cheating as far away from the circles of clients, colleagues, employers, regulators …otherwise at least you 'd end up with material non public information, and this may be a problem.

Well, now I’m seeing the ethical principle: if you wanna have an affair with a client’s wife, you must treat all your clients fairly.

But there’s still another problem. By English law a husband carries out fiduciary duty to his wife. Does that mean that if a hubby cheats on, he commits a breach of fiduciary duty and, as a consequence, fails to comply with the Standard III (A) Loyalty to clients and Standard I (A) Knowledge of the law?

We are not legal experts here. To avoid any doubt, ask your legal consultant or better, send a question to CFAI.

The golden rule is - don’t sh…t where you eat ! And you will be fine…


Well said. Shortly, this is the point.