Center for the Study of Ethics in the Professions at IIT

The Canadian Society of Technical Analysts (CSTA) has established ethical standards of professional conduct which every Full and Associate Member shall maintain. The Ethical Standards set forth in 1 through 8 serve as a guide to professional responsibility and as a benchmark for ethical judgement.

1. Members shall maintain at all times the highest standards of professional competence, integrity and judgement. This ethical standard requires strict compliance with the applicable laws of the federal Government of Canada, provincial and local governments, and regulations of all Canadian stock exchanges and Investment Dealers Association of Canada. This same ethical standard requires that Members abide by the Constitution and By-Laws of the Society and all rules promulgated by its Board of Directors. Members shall not unduly exploit their relationship with the Society for commercial purposes, nor use, permit others to use, Society mailing lists for other that Society purposes.

2. Members shall not publish or make statements which they know or have a reason to believe are inaccurate or misleading. Members shall avoid leading others that believe that their technically-derived views of future security price behavior reflect foreknowledge rather than estimates and projections subject to re-examination and , as events may dictate, to change.

3. Members shall not publish or make statements concerning the technical position of a security, a market or any of its components or aspects unless such statements are reasonable and consistent in light of the available evidence and of the accumulated knowledge in the field of financial technical analysis. New methods of technical analysis and modifications of existing concepts and techniques shall be fully documented as to procedure and rationale. Proprietary methods shall not be infringed, but this standard shall be a guide in the creation of proprietary products.

4. Members shall not publish or make statements which indefensibly disparage and discredit the analytical work of others.

5. Members shall not seek, disseminate or act on the basis of material, non-public (inside) information, if to do so could violate the laws and regulations of any government, governmental agency or regulatory organization relating to the use of inside information.

6. Members shall keep in confidence knowledge concerning the lawful private affairs of both past and present clients, employers and employer's clients, required by legal process of a court of law or other governmental body or agency having appropriate jurisdiction.

7. When a member recommends that security ought to be bought, sold or held, adequate opportunity to act on such a recommendation shall be given to the Member's clients, employer, and the employer's client before acting on behalf of either the Member's own accounts or the accounts of immediate family members.

8. Members shall not copy or deliberately use substantially the same language or analysis contained in reports, studies or writings prepared by any author unless permission to do so is received in advance, from the author. In the event the original author is deceased, or is otherwise unavailable to grant such permission, Members must ensure that the original author receives prominent and adequate credit for the original work.