Jason Blackwell, CFA, works as an investment manager for Mega Capital, a large multinational brokerage firm. He resides in a country whose applicable law is stricter than the Code and Standards but does business with clients in a country whose applicable law is less strict than the Code and Standards. Blackwell decides to follow the Code and Standards for clients in the less strict country. While Blackwell is still employed at Mega, Lego Associates verbally asks Blackwell to review client portfolios during evenings and weekends for a fee. Blackwell gets written consent from his immediate supervisor at Mega to undertake this independent activity for a one-month trial basis. Which of the following statements about Blackwell’s actions involving Standard I, Professionalism, and Standard IV(A), Loyalty is most accurate? Blackwell: A) did not violate either Standard I or Standard IV(A). B) violated both Standard I and Standard IV(A). C) violated Standard I but did not violate Standard IV(A). D) did not violate Standard I but violated Standard IV(A).
C? - Stricter law should be followed…( unless the law states that the rules of place of business should be followed- in that case it would still be- code & stds.) he obtained written consent from his employer hence not a violation
A? the stricter law rule I think is under knowledge of the law.
OK…you guys have it…but my question here is that…they didn;t tell us what specifically was more stricter in the stricter country. So how do we interpret that? Is it that just because they say stricter…we assume everything is more stricter than the other country or CFA code of ethics?