Gifts

AMC - All gifts must be disclosed. Does it mean token gifts has to be disclosed? Standard and Practices: Token gifts are acceptable from service providers and investment targets and doesnt have to be disclosed Token gifts are acceptable from clients and dont have to be disclosed am i right on this points? Thanks

if the nominal value is so small (flowers, chocolate, clock) as to not compromise independence, disclosure is not required.

former trader Wrote: ------------------------------------------------------- > if the nominal value is so small (flowers, > chocolate, clock) as to not compromise > independence, disclosure is not required. so token gifts shouldnt be disclosed even for AMC

I thought the $100 rule no longer applies, therefore all gifts must be disclosed regardless of value.

i think any potential question will specify if they are referring to the AMC or the Standards so if AMC - disclose the chocolates.

YOu only have to disclose Chocolates if they are “Sexual Chocolates” :slight_smile:

I really love Ethics.

If I disclose a box of chocolates to my boss, I am pretty sure he may fire me for stupidity.

ok for exam i will do this If it is ethics only, you can accept token-gifts from anyone without disclose if it is services provider on investment target you cannot accept any gifts over token value if it is client - you need to seek approval for AMC, you have to disclose token gifts too

thanks comp - nice little summary you did

jmychasi i am not sure about AMC and disclosure of token gifts. dont take my word for it i am not sure how i will do it

I have to disclose EVERYTHING at my current job, and that includes chocolates.

shark777 Wrote: ------------------------------------------------------- > I have to disclose EVERYTHING at my current job, > and that includes chocolates. no way

I think: AMC: no gifts at all (regardless of disclosure) Ethics: if token gift (client/provider) - can accept w/o disclosure if big gift from client - disclosure if big gift from provide - can’t take am I totally wrong?

Acceptance of gifts under AMC is allowed as long as it could not be reasonably be expected to affect their independence, objectivity or loyalty to clients. Please stop all this talk about how you’re not allowed to accept gifts under AMC.

comp_sci_kid Wrote: ------------------------------------------------------- > shark777 Wrote: > -------------------------------------------------- > ----- > > I have to disclose EVERYTHING at my current > job, > > and that includes chocolates. > > > no way Yes, its new though, started this year. It’s not that we are not allowed to accept them, just have to disclose everything under the sun. CYA i guess

ok so difference b/w AMC and ethics is that AMC cannot accept gifts at all over minimal value, but under Ethics, you can accept big giflts from clients as long as disclosed

AMC only covers service providers, it doesnt cover clients AFAIK.

The firm must set what minimal is considered. But prockets yes, I guess that would be true between the two.

i dont think it is about clients in AMC 'Managersmust refuse to accept gifts or entertainment from service providers, potential investment targets, or other business partners of more than a minimal value." No words about clients