A US National (CFA charterholder) working in another country has to follow stricter of: (i) US Law (ii) Local laws (iii) CFA Code of Ethics and Standards or Professional Conduct Regarding GIPS - I read in an answer to a multiple choice question that you can follow local laws (instead of GIPS) if they are less strict - the reason being that you can compete with local firms on a comparable basis. Is that correct?
ii and iii
CFA candidates and charterholders have to follow US Law - since CFA Code and Practice is based on US Law - right?
manishsd Wrote: ------------------------------------------------------- > CFA candidates and charterholders have to follow > US Law - since CFA Code and Practice is based on > US Law - right? Where are you getting this info from? That is completely inaccurate. If local law is less strict than C&S, follow C&S. There is a nice chart in the CFA book that explains this.
So even in case of performance presentation (GIPS), follow strictest requirement.
manishsd Wrote: ------------------------------------------------------- > So even in case of performance presentation > (GIPS), follow strictest requirement. Only if they claim GIPS compliance, it’s voluntary. AMC is also voluntary.
If they claim GIPS compliance, and local law is stricter in some regard than GIPS, they have to present that portion according to the local law, and disclose that.
I did not know AMC is optional?
Just to understand: If you are a Canadian company and you are doing work in Mexico which has looser rules that are also accepted by the CFA institute, BUT not Canadian law… are you able to do it? Please disregard the terrible grammar, its almost CFA time and I am too tired to correct for that stuff.
I think you have to follow the stricter of the local law vs CFA Law, so Mexico law vs CFA law. So you shoud be able to provide your services in Mexico.
it depends on which law applies
Soccertom9 Wrote: ------------------------------------------------------- > Just to understand: > > If you are a Canadian company and you are doing > work in Mexico which has looser rules that are > also accepted by the CFA institute, BUT not > Canadian law… are you able to do it? > > Please disregard the terrible grammar, its almost > CFA time and I am too tired to correct for that > stuff. A company is not subject to CFA rules. A individual is. A canadian citizen working in mexico would have to comply with the stricter of mexican law (local law) or CFA rules and regulations. However, i think a CFA charterholder/candidate working for a company in canada doing research in mexico would have to comply with the stricter of canadian law or CFA.