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Rules of Procedure

The Rules of Procedure for Professional Conduct (Rules) and CFA Institute Bylaws provide guidance for conducting investigations into allegations, determining violations, imposing sanctions, conducting disciplinary proceedings, and disclosing violations.

Periodically we review the Rules of Procedure, propose revisions to the Rules, invite member comment, and submit the proposed revisions to the Board of Governors for consideration.

Current Rules of Procedure

Effective 1 January 2022, the Board of Governors approved the Rules of Procedure as amended and restated below: 

Rules of Procedure: Exam-Related Matters

Read the Rules (PDF)

Rules of Procedure: For Conduct Related to the Profession

Read the Rules (PDF)

Applicable Rules for Individuals Under Investigation

Individuals under investigation for profession-related conduct who have not received a Statement of Allegations or Notice of Summary Suspension from the Professional Conduct Program prior to the effective date of the new Rules may choose to proceed under either the 2017 or 2022 Rules.

Any matter related to professional conduct for which the Professional Conduct Program has issued a Statement of Allegations or Notice of Summary Suspension prior to the effective date of the new Rules will proceed under the 2017 or 2022 Rules.

Learn more about the disciplinary process

Past Rules of Procedure