How come he is not required to disclose $50 compensation(I thought that one needs to disclose whenever cash is involved) but the benefits from sport faciities. also is he not required to inform the supervisor in writing of his obligation to standards because he is not a candidate. I remember from level 1 that as a candidate you are required to give in writing or something like that. can someone confirm/ thanks
it is a recommendation to inform your supervisor regarding CFA code. I dont think you have to even tell him you are going to follow it “Eliminating the Requirement to Inform Employers of the Code and Standards. Previously the Standards of Professional Conduct included a requirement that members and candidates notify their employer of their responsibility to abide by the Code and Standards. Although it is in the member or candidate’s best interest to notify their employer, and thereby potentially avoid being placed in a compromising position, CFA Institute believes that notification should be a recommendation rather than a requirement in the Standards. Such a recommendation is included in the Preamble to the Code of Ethics.”
thanks CSK. can u pls ans the other two. how would you interpret cash$50 vs the benefit?
krishna1 Wrote: ------------------------------------------------------- > How come he is not required to disclose $50 > compensation(I thought that one needs to disclose > whenever cash is involved) but the benefits from > sport faciities. > > also is he not required to inform the supervisor > in writing of his obligation to standards because > he is not a candidate. > > I remember from level 1 that as a candidate you > are required to give in writing or something like > that. can someone confirm/ thanks 1) I thought he should have disclosed it. The explanation was that it was unrelated to his profession so it shouldn’t give rise to any conflicts. 2) He is not required to inform his supervisor because CFAI took that out of the Code this year. 3) Yes, it used to be in the Code. This year it is not. Expect to see a question on this.
If I sell ice cream on the street on weekends, should I disclose it to my firm, supervisor, current/potential clients in writing??? C’mon, you think they would give a rat’s @$$? You only disclose to everyone if there is a potential for conflict of interest with any of the parties involved. But then again if during my weekend ice cream stints i eat too much of it myself i get a big brain freeze and that could compromise my objectivity and …