How is "fair dealing" characterized in CFA standards?

In the context of CFA standards, "fair dealing" is characterized by ensuring that clients are treated equitably. This principle emphasizes the importance of equitable treatment across all clients in the investment decision-making process. It mandates that investment professionals provide similar investment opportunities to all clients and not favor any particular group based on criteria such as wealth or status. Fair dealing aims to create a level playing field, where all clients receive fair consideration and have equal access to investment information and opportunities.

This standard is fundamental in maintaining trust and integrity in the client-advisor relationship, as it upholds the ethical obligation to act in the best interest of all clients without discrimination. Prioritizing equitable treatment fosters confidence in the financial markets and promotes a reputation of fairness within the profession.