The Asset Manager Code of Professional Conduct was first published by CFA Institute in 2009, and today, approximately 1,400 asset managers claim compliance with the Code. In 2016, several influential plan sponsors, representing trillions of dollars in assets under management, were signatories to a letter expressing support for the Code and emphasizing its importance to the asset management industry. They said:
"We, the undersigned leading North American pension plans, wholeheartedly encourage investment management firms to embrace the standards set forth in the Asset Manager Code of Professional Conduct. We are convinced that doing so sends a powerful message to our employees, our business partners, and our stakeholders who count on us to wisely manage the assets entrusted to our care."
To find out more about the Asset Manager Code of Professional Conduct, click here.
About the RCA's Compliance Transparency Platform
Schacht said the purpose of the partnership with the Regulatory Compliance Association is to increase utilization of the code by driving down the cost of implementation, increasing the ease of adoption, and increasing transparency for plan sponsors who require substantive and documented access to a firm's compliance program.
He noted that the platform combines tutorials and instruction from a faculty of distinguished chief compliance officers and general counsels to guide users through the process of adopting the Code.
According to Jane Stafford, general counsel for RCA, "Our partnership with CFA Institute gives compliance officers the opportunity to take a step away from interpreting and enforcing rules and toward providing support that can make a meaningful difference in operations and marketing."
She added, "Previously, adoption of the Asset Manager Code of Professional Conduct required a significant commitment of in-house resources or the use of consultants. Now, chief compliance officers and/or general counsel can assign the entire process to in-house personnel with the use of the Compliance Transparency Platform."
James G. Jones of Sterling Investment Advisors concurred. "For large firms or firms with complex business models, the process required for gaining compliance can be challenging. The Asset Manager Code Implementation Series sponsored by the RCA has been created to specifically address this need. I would encourage any company considering adopting the Code to contact the RCA about the Asset Manager Code Implementation Series."
To visit the RCA'S Compliance Transparency Platform, click here.
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has over 142,000 members in 159 countries and territories, including 136,000 CFA charterholders, and 147 member societies. For more information, visit www.cfainstitute.org.
About the Regulatory Compliance Association
Regulatory Compliance Association (RCA) supports a community of over 80,000 compliance, legal, and operations executives from regulatory authorities, institutional investors, and alternative investment and asset management firms, by: (1) Providing the most respected professional licensure and certification in compliance by regulators, compliance officers, in-house counsel, and operations executives—the CRC™ (Chartered Regulatory Counsel)™ license; (2) Acting as the exclusive programmatic accreditation agency for CCE® (Continuing Compliance Education®), and (3) Providing MBA level curricula in regulation, compliance, examinations, enforcement, and operational process.
David R. Evanson
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SOURCE CFA Institute