Conduct Standards

The Conduct Standards pertain to criminal and civil litigation, regulatory events, and personal and professional conduct.  Self-disclosure of such events is required when applying for the AIF®, AIFA®, or PPC® designation, as is ongoing disclosure.

Each candidate for a Designation (or Designee) must meet the following conduct standards.

    1. Status Standards

      No candidate for a Designation (or Designation holder) may be any of the following:

      1. Felon

        A person who, within the last 10 years, has been convicted of, or against whom a guilty plea has been entered with respect to, a felony under the criminal laws of the United States, any State, or any foreign jurisdiction.

      2. Financial Criminal / Civil Defendant
        A person who, within the last ten (10) years,
        1. has been convicted of, or against whom a guilty plea has been entered with respect to, a crime other than a felony, or
        2. is the subject of an administrative or enforcement order by a financial regulatory agency, or
        3. has been a non-prevailing defendant in a civil or criminal cause of action, per guidelines below,

        which in any of the above cases involves misrepresentation, fraud, extortion, conversion, misappropriation, fiduciary breach, theft, or other similar violation of the laws or any administrative rules of the United States, any State, or any foreign jurisdiction.

      3. Suspended from the investment profession

        A person who, within the last two (2) years, has been barred or suspended, as to any form of activity, as a disciplinary measure from registration under the securities laws or regulations (or similar laws or regulations relating to the investment process) of the United States, any State, or any foreign jurisdiction, or from association or affiliation with a self-regulatory organization with legal authority over the investment process.

    2. Violations

      A candidate for a Designation (or Designation holder) who commits any of the following acts or omissions may be subject to sanctions:

      1. False or misleading statement

        Intentionally or recklessly makes a misleading statement or omission with respect to a candidate’s application for a Designation, a Designation holder’s application for renewal, or during an investigation of a Designation holder’s satisfaction of these standards.

      2. Failure to respond or cooperate

        Fails to respond to any request for information or otherwise failing to cooperate in any investigation of a candidate’s or Designation holder’s satisfaction of these standards.

      3. Failure to report pending action

        Fails to expeditiously report any violation of the status standards, or any decision by a court, regulatory agency, or administrative agency that is likely to evidence that the Designation holder engaged in unprofessional conduct.

      4. Bankruptcy

        Filed for, or been forced into, bankruptcy due to failure of a financial services related business during the last five (5) years.

      5. Code of Ethics

        Violates or fails to satisfy the Code of Ethics.

      6. Unprofessional Conduct

        Engages in unprofessional conduct, which may include without limitation (a) any act or omission that results in a civil finding by a court of competent jurisdiction or by arbitration of a fiduciary breach by the candidate or Designation holder within the last ten (10) years, (b) any act or omission that results in the divestiture or revocation of a professional designation or license or other reprimand relating to fiduciary conduct, (c) any censure by an administrative agency relating to fiduciary conduct within the last ten (10) years, (d) any negligent, false, or misleading statement or omission with respect to a candidate’s application for a Designation or during an investigation of a Designation holder’s satisfaction of these standards, (e) any failure of a Designation holder to report to the Center for Fiduciary Studies the Designation holder’s violation of these Conduct Standards, or (f) any conduct unbecoming of a Designation holder or discrediting the Designation.

For more information, please read the document below.

Attachments

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