Code of Ethics

Goldman Sachs Trading Tips Reward Big Clients - WSJ.com:

"Mr. Canaday says analysts are told that any comment at a meeting that could result in a change in a rating, earnings estimate or stock-price target "must be published and disseminated broadly to all clients." He adds, however, that it is rare that tips arising from the meetings reach that threshold. He says ratings changes after the meetings also are rare."

As someone who has been involved with the professional designations available from the CFA Institute for the past seven years or so, I can't help thinking about the ethical codes those granted the right to use the designations must abide by. What the WSJ article describes sounds like front running, which would violate said code.

I am curious how the CFA Institute views Goldman Sachs practice as described in the front page article.