C) I think volunteering his time could be expected to pull his time away from duties to the employer. Def disclose that shite. I don’t think the compensation is really the issue. No impact/conflict of interest to clients.
That cold Zim, what about the kids!!! Are they not impacted by this mans time and effort…
Jim Taylor works as a portfolio manager for Rose Capital and also serves as president of the Little League board of directors in his town. He receives no money from Little League, however the local golf club provides him with a free membership for volunteering his time on the Little League board. Taylor’s involvement with Little League is in his company biography, but the club membership has not been disclosed to Rose or his clients. Taylor has: A) violated the Standards by not disclosing the club membership to Rose and failing to disclose it to clients. B) violated the Standards by not disclosing the club membership to clients, but not by failing to disclose it to Rose. C) violated the Standards by not disclosing the club membership to Rose, but not by failing to disclose it to clients. D) not violated the Standards. Correct Answer is C) I found this in the earlier post on Rose Capital
Was the explanation there too?
Correct answer is C.
He must disclose any compensation to his employer according to the Standard on disclosure of additional compensation arrangements. However, the golf club membership does not likely represent any conflict of interest with clients.
can you post the explanation please?
C - whether the compensation is monetary or not, it’s still compensation. it has to be disclosed to his employer. seeing how he is the president i would assume that it would take substantial time away from his other duties
so compensation is reported to employer, but only conflicts of interest are reported to clients (as well as employer)?