TDAM adopts CFA Institute asset manager conduct code

TDAM joins growing list of investment firms to pledge integrity, ethical behavior

By: IE Staff
May 17, 2012 May 17, 2012
09:20

CFA Institute, the global association of investment professionals that sets the standard for professional excellence, has added TD Asset Management Inc. (TDAM) to the expanding roster of investment firms that comply with its Asset Manager Code of Professional Conduct.

TDAM joins a list of 40 Canadian firms that comply with the code, reflecting Canada’s leadership in market integrity and professional ethics.

The code 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 their asset managers and offers a greater level of confidence in firms that adopt the code.

“Investors are ready for a change in the way leading firms do business. We pride ourselves on integrity and discipline, and adopting the Asset Manager Code of Professional Conduct clearly demonstrates that to our clients,” says Mike Thorfinnson, CAO and chief risk officer of TDAM. “This is our pledge to investors to keep their interests first and display the highest level of professional conduct.”

The code is grounded in the ethical principles of CFA Institute and the CFA program, and requires that managers commit to the following professional standard:

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.

“The time has come for all investment firms to take responsibility for restoring trust in the profession,” says Kurt Schacht, managing director of the standards and financial market integrity division of CFA Institute. “We applaud TDAM, and all other firms who have adopted the code, for exercising a bold voice for professional ethics. We encourage all investment firms that meet these standards to demonstrate their integrity and adopt the code.”

More than 650 firms in 20 countries have registered their compliance with the Asset Manager Code of Professional Conduct. In Canada, 40 firms are registered, click here to view the full list.