Views on improving the integrity of global capital markets
04 December 2014

BlackRock Adopts CFA Institute Asset Manager Code of Professional Conduct


BlackRock, the world’s largest asset manager, has joined the ranks of more than 1,000 firms worldwide that claim compliance with the CFA Institute Asset Manager Code of Professional Conduct.

The Asset Manager Code of Professional Conduct clearly outlines the ethical and professional responsibilities of firms that manage assets on behalf of clients. For investors, the code provides a benchmark of ethical conduct they should expect from asset managers and offers a higher level of confidence in firms that adopt the code. Ariel Investments, Janus Capital Management, JP Morgan Asset Management, Loomis Sayles, Morgan Stanley Investment Management, Inc., TD Asset Management, and US Bancorp Asset Management are among the firms that claim compliance.

Says BlackRock’s Chief Operating Officer Rob Goldstein, “Investors deserve and should expect the highest level of professional conduct in the firms and individuals with whom they entrust their investments. Our clients entrust BlackRock to manage more assets than any other firm in the world, they are our number one priority. Adopting the Asset Manager Code of Professional Conduct is one more demonstration of our commitment to placing the needs and interests of our clients above all else.”

The Asset Manager Code of Professional Conduct is grounded in the ethical principles of CFA Institute and the CFA® Program, and requires that managers commit to the following professional standards:

  • 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

“Firms like BlackRock that actively demonstrate their integrity are the kind of industry leaders we need to advance the profession and shape a more trustworthy financial industry,” says Michael Trotsky, CFA, executive director and chief investment officer of the Massachusetts Pension Reserves Investment Management Board and member of the CFA Institute Board of Governors.

A champion for ethical behavior in investment markets, CFA Institute is working to build investor trust and promote transparency through:

Photo credit: AP Images

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About the Author(s)
Jonathan Boersma, CFA

Jonathan Boersma, CFA, is the former head of Professional Standards and former executive director of the GIPS standards at CFA Institute. He was responsible for developing, maintaining, and promoting the GIPS standards, Code of Ethics and Standards of Professional Conduct, and other CFA Institute standards of practice.

1 thought on “BlackRock Adopts CFA Institute Asset Manager Code of Professional Conduct”

  1. Emil Lalichan says:

    This is great news for CFA Institute

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