APAF members Code of Conduct was approved within the framework of its powers by APAF.
This code intends to direct the behavior of the APAF Member in the sense that the exercise of the profession is responsible, loyal, effective, and efficient.
Pursuant to CMVM Regulation 3/2010, adherence to a code of conduct and/or ethics of a professional association representing investment advisers and financial analysts replaces the definition of the policies and procedures that financial analysts themselves and investment consultants are required to define.
The Code of Conduct published here was approved and came into force on January 1, 2025, presenting significant changes in relation to the previous version, which is why it is recommended that you read it carefully.
With the entry into force of this Code, the APAF Code of Conduct, which was in force until December 31, 2024, will cease to be in force.
You can download the APAF Members Code of Conduct below.
It is also available for download, the Declaration of Compliance with the APAF members Code of Conduct, which must be subscribed and sent to APAF through the email apaf@apaf.org.pt