are we suppose to disclose gifts with nominal value? what exactly does nominal mean here? doesnt it mean “small” or “insignificant”? i thought token gifts like stuff with company logo is ok?
an inexpensive bottle of wine or free passes to the movies are token/nominal. front row seats at a big sporting match and a week at a holiday house are definately not. anything that could affect your independance/objectivity is included.
So… one still needs to disclose ‘nominal value’ gifts too, right?
exam 2 from book 5 morning session q10. it says nominal must be disclosed…so confused
apply the if in doubt disclose test (DitchdiggerCFA@C)
oh okay…so when in doubt just disclose…thanks
Haha… Toronto_1, I was thinking of the same Q.
sweet! two birds with one stone 