Ethics: competition against your current employer

there is one thing about independent practice that I don´t understand: in standard 4.a (page 70 of cfa text), apparently members and candidates should abstain from independent competitive activity that could conflict with the interst of their employer… but then says that members can engage into independent business for compensation if they get consent from their employer if, for example, I am a portfolio manager for company “A”… can i also work as an independent portfolio manger for other clients, which would put myself in direct competition with my current employer? only if I get consent from my current employer… or not even in that case? thx

I think you would have to get consent from both

thx so we can forget about the first sentence, right? as long as I get consent from my employer (and the other), I can work for them in the morning and try to kill them in the afternoon, right?

That seems to be the standard is written I am sure you wouldn’t see “Kill the in the afternoon” on the exam though. But it is CFAI so who knows…