As part of an effort to restore confidence in the financial industry, the CFA Institute has published a new “statement of investor rights” — a set of principles that is supposed to help investors demand fair treatment from the industry.

The principles include: putting clients interests above those of the firm and the advisor; disclosing conflicts of interest; ensuring the advisor “knows” the client; plain language disclosure; an explanation of fees and investing costs; confidentiality; independent, objective advice; fair treatment vis a vis other clients; honest, competent, and ethical conduct; and, accurate recordkeeping.

The list of principles is designed to apply to financial products and services such as investment management, research and advice, personal banking, and insurance and real estate, the institute says, “and is intended to help investors demand that financial professionals abide by these rights.”

The new principles are part of a new initiative launched Monday by the CFA Institute’s that aims to restore confidence in the financial industry, known as the Future of Finance project. “The project aims to provide the tools to motivate and empower the world of finance to commit to fairness, improved understanding, and personal integrity,” it says.

The project is being led by economist, John Kay, who chairs an advisory council that includes a variety of experts from finance, education and media, including Keith Ambachtsheer, director, Rotman International Centre for Pension Management at the University of Toronto.