GIPS Compliance - Entity Types

A locally incorporated subsidiary or investment management division of a larger institution can claim GIPS compliance? I thought it had to be on the firm wide basis? Whats the trick to remember here?

It depends on how it’s advertised to the investing public. If the locally-incorporated subsidiary or investment management division is advertised (and perceived by the investing public as) a separate entity, then that’s the firm; if not, then the firm is something larger.

thanks

You’re welcome.