Standard of Practice gives this example where an analyst works for a small mutual fund. She has accepted a position as a trustee at a very large Not for profit organization. They mention that this is a violation of 6 a disclosure of conflicts. Isnt this also a violation of 4 a duty to employers?

whether there are interference of services?

The example is presented w/in the section on Standard VI: Conflicts of Interest: (A) Disclosure of Conflicts (p.118-119). As you’ve said, and as CFAI’s commentary discusses, this is also a violation of Standard IV: Duties to Employers: (A) Loyalty, due to the time demands that likely “deprive their employer of the advantage of their skills and abilities.” Below are the example you cited, and another one from Standard IV. Moreover, violation of either of these is also a violation of Standard I: Professionalism: A. Knowledge of the Law, which encompasses violations of any Standard. p.89 Example 9. Alfonso Mota is a research analyst with Tyson Investments. He works part time as a mayor for his hometown, a position for which he receives compensation. Must Mota seek permission from Tyson to serve as mayor? Comment: If Mota’s mayoral duties are so extensive and time consuming that they might detract from his ability to fulfill his responsibilities at Tyson, he should discuss his outside activities with his employer and come to a mutual agreement regarding how to manage his personal commitments with his responsibilities to his employer. p.118-119 Example 8. Carol Corky, a senior portfolio manager for Universal Management, recently became involved as a trustee with the Chelsea Foundation, a very large not-for-profit foundation in her hometown. Universal is a small money manager (with assets under management of approximately $100 million) that caters to individual investors. Chelsea has assets in excess of $2 billion. Corky does not believe informing Universal of her involvement with Chelsea is necessary. Comment: By failing to inform Universal of her involvement with Chelsea, Corky violated Standard VI(A). Given the large size of the endowment at Chelsea, Corky’s new role as a trustee can reasonably be expected to be time consuming, to the possible detriment of Corky’s portfolio responsibilities with Universal. As a trustee, Corky also may become involved with the investment decisions at Chelsea. Therefore, Standard VI(A) obligates Corky to discuss becoming a trustee at Chelsea with her compliance officer or supervisor at Universal before accepting the position and she should have disclosed the degree to which she would be involved in investment decisions at Chelsea.

Just accepting a position should also conflict rt since the time she devotes to the non profit org could be spent at work

Yup Thanks a lot hiredguns

So, I guess ethics is an important part of this exam. I just choose the opposite of what I think would profit me and this works out for the most part. Time to re-read the 159 pages of wonderful exciting material.