Ethics - Is IPS a requirement or recommendation?

CFAI Volume 1 pp61-62 - Is IPS a requirement or recommendation? It appears under both sections!

Not positive but would think its a requirement given the amount of time spent on the topic But will wait for others to opine…

Requirement or Recommendation!! Is this related to GIPS or Ethics?? I remember to have read that Defined Contribution PP IPS is a requirement, I guess by the law for allowing sufficient investment alternatives, freedom to move between alternatives, literature on options available etc

This was related to Ethics. Well, now that you mention it, want to know both. 1) Under Ethics i.e. the CFA Standards, is IPS a requirement or recommendation? 2) Under GIPS, is IPS a requirement or recommendation? Thanks in advance!

Haven’t seen this in either

Please read CFAI Volume 1 pp 61-62.

I think its an implicit requirement (or maybe explicit, I don’t remember). I don’t think you’d be following your “Duties to Clients” if you didn’t create one.

Requirement under Ethics. GIPS - REQUIRED to follow an IPS ‘IF’ there is one in place. Otherwise, recommended to have one if there is none.

Requirement! Helps make things eaasier for the client and the manager