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Questions and Answers
According to the Code and Standards, what should members and candidates do if applicable laws do not require disclosure of referral fees?
When are members and candidates required to adhere to the Code and Standards, even if it may otherwise be legal?
What is the minimal threshold of acceptable actions for members and candidates according to the text?
In the absence of applicable laws, what should members and candidates adhere to?
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What do the Code and Standards require members and candidates to do in relation to their professional activities?
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What are CFA Institute members obligated to abide by?
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According to the text, what do the more strict laws or regulations impose?
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What should members and candidates do when actions exceed the minimal requirements?
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What is the responsibility of CFA Institute members in countries with no applicable laws or regulations?
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What should members and candidates do when the Code and Standards impose a higher degree of responsibility than applicable laws and regulations?
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Study Notes
Disclosure of Referral Fees
- Members and candidates should disclose referral fees, even if not required by applicable laws.
Adherence to Code and Standards
- Members and candidates must adhere to the Code and Standards whenever they apply, irrespective of legal allowances.
Minimal Acceptable Actions
- The minimal threshold of acceptable actions consists of complying with applicable laws and regulations.
Absence of Applicable Laws
- In the absence of applicable laws, members and candidates are encouraged to adhere to the Code and Standards.
Responsibilities in Professional Activities
- The Code and Standards require members and candidates to conduct their professional activities with integrity and professionalism.
Obligations to Abide
- CFA Institute members are obligated to abide by the Code and Standards at all times, reinforcing ethical conduct.
Strict Laws or Regulations
- Stricter laws or regulations take precedence and impose a higher degree of responsibility than the Code and Standards itself.
Exceeding Minimal Requirements
- When actions exceed the minimal requirements, members and candidates should document and justify their higher standards of conduct.
Responsibility in Unregulated Countries
- CFA Institute members in countries lacking applicable laws or regulations must still follow the Code and Standards to maintain ethical standards.
Higher Degree of Responsibility
- When the Code and Standards demand a higher degree of responsibility than existing laws, members and candidates must comply with the Code and Standards.
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Description
Test your knowledge of the CFA Institute's Code and Standards with this quiz. Explore the ethical guidelines that members and candidates must adhere to when providing investment services in countries with no applicable laws or regulations. Evaluate your understanding of the requirements for protecting investor interests and navigating varying degrees of legal restrictions.
