Ethics - consent

Regarding 1. receipt of gifts and 2. services and compensation outside of employer Is written consent needed from the a. Gift giver? b. third party receiving the services/providing the compensation? Schweser is vague in these situations. In some cases they say wriiten consent is needed “from all parties involved” in others they say “the employer”.

I think it’s written consent from the employer. Thats what most of the questions have as the answer.

The reason for the vagueness may be that consent from the third party can reasonably safely be assumed as given in these cases. If a client sends his investment advisor golf clubs as a gift, it stands to reason the client has consented to the advisor accepting the gift. Similarly, if a prospective client pays an advisor for service outside that advisor’s regular employment, it stands to reason that the prospective client would consent to his request being met and the requested service being provided. Note that consent is not required from the employer for reasonable gifts from clients, only disclosure. Gifts from non-clients are different as they may create a conflict of interest, and here consent is required. Similarly, requests for work outside of employment could create a conflict of time/interest with the employer, and thus similarly require employer consent.