[CFA Level I] 13, Priority of Transactions and Referral Fees

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

* How Standard VI(B) establishes trade priority for clients, employers, and personal accounts.

* What constitutes beneficial ownership and personal pecuniary interest under CFA Institute standards.

* Best practices for firm compliance policies including pre-clearance, restricted lists, and blackout periods.

* Mandatory upfront disclosure requirements for referral fees and consideration under Standard VI(C).

* How to identify common traps regarding non-cash compensation and referral agreement timing.

For independent exam preparation resources, visit https://open-exam-prep.com/practice/cfa-level1 and watch video tutorials at https://www.youtube.com/@Open-exam-prep .

Sources checked: October 12, 2026

https://www.cfainstitute.org/standards/professionals/code-ethics-standards

https://www.cfainstitute.org/standards/professionals/code-ethics-standards/standards-of-practice-vi-c