A member's news release implies endorsement by the CFA Institute.

• A. Standard VII.A Conduct as a CFA Institute Member or Candidate
• B. Standard I.C Misrepresentation
• C. Standard IV.E Preservation of Confidentiality
• D. Code of Ethics and Standards

Answer: (A)

Implying that the CFA Institute endorses a member’s professional activities is a misrepresentation of affiliation, and the standard that directly governs how members present themselves and their relationship to the Institute is the conduct standard for CFA Institute members or candidates. This standard prohibits communications that suggest the Institute endorses or sponsors a member’s activities. A news release that says the Institute endorses the member would mislead clients into believing the Institute approves of the member’s work, which is not allowed. While the Code of Ethics and Standards provides the overarching ethical framework, the specific rule about endorsements and representations is found in Conduct as a CFA Institute Member or Candidate. It isn’t about confidentiality, and it isn’t addressed by the broader misrepresentation standard in this context, so this is the best fit.