Ethic Question

On page 119 of the book 1 of the Level III curriculum, the question 27’s answer, according to the answer key, is B. This is about a statement made in a case which states: … Although Markoe Advisors, as a firm, cannot adopt the CFA Code of Ethics and Standards of Professional Conduct, the firm can adopt the CFA Asset Manager Code…" The answer was “B” which states that this statement is incorrect with regards to firms not being able to adopt the Code of Ethics. In other words, firms CAN adopt Code of Ethics. However, I always thought the Code of Ethics applied only to individuals. In fact, this is confirmed on Page 134 on line 5. It says, “Note that the Code and Standards apply to individuals, not to investment organizations.” Anyone know why CFA Institute is making this very ambiguous???

See my previous post on your double post.