Explain the duties the Code and Standards impose on members and candidates, covering every subsection of all seven Standards

The Code of Ethics sets six broad obligations, among them integrity, putting clients first, reasonable care, independent judgement and maintaining competence. The seven Standards make these enforceable through 23 subsections: Professionalism I(A) to I(E), Integrity of Capital Markets II(A) and II(B), Duties to Clients III(A) to III(E), Duties to Employers IV(A) to IV(C), Investment Analysis, Recommendations and Actions V(A) to V(C), Conflicts of Interest VI(A) to VI(C), and Responsibilities as a Member or Candidate VII(A) and VII(B). For a portfolio manager most cases land in Standards III, V and VI, because allocation, suitability, communication and conflicts are daily decisions. The skill is naming the exact subsection each act engages, knowing one act can breach several.