Knowledge of the law...

CFA Level II
#1

are all ethics violation a violation of Standard I (A)?? Discuss…

#2

What do you mean by ‘all ethics violation’? If you are referring ethics as moral philosophy then NO. Morally wrong does not necessary mean transgression and vice versa. Those are two separate thing.

#3

No… I mean, I refuse to discuss

#4

My bad, I was referring to ethics in the sense of the CFAi Standards, i.e by violating Market Manipulation has one also automatically violated the Knowledge of the Law Standard?

#5

Not all ethics violations also constitute violations of the law, and not all violations of the law violate ethics, so the answer would be no… The standards state that you must adhere to the more strict of a) the applicable laws for the jurisdiction in which you operate, or b) the CFAI code and standars. There are some cases where the laws are more strict, and other cases where the Code and Standards are more strict. It also depends on what country you are in and what contry you conduct business in.

#6

not much to discuss here…

#7

I believe section I(A) of the C&S not only covers local security laws, but the C&S itself as well. So any violation of C&S is automatically a violation of section I(A). (After all, the spirit of the C&S says that the CFA designation is supposed to uphold the highest ethical standard in the investment industry.)

#8

Grangel, I’m with eltia, Standard 1 (A) Knowledge of the Law, doesnt just apply to legal law, but knowledge of the CFA rules and standards too as a “law” for the analyst to abide by… unless I read the section wrong…

#9

eltia Wrote: ------------------------------------------------------- > I believe section I(A) of the C&S not only covers > local security laws, but the C&S itself as well. > So any violation of C&S is automatically a > violation of section I(A). (After all, the spirit > of the C&S says that the CFA designation is > supposed to uphold the highest ethical standard in > the investment industry.) This is a good point, though without the rest of the C&S sections spelling out what constitutes a violation, the only thing to talk about on Section 1(A) would be the local securities laws… Guess we’re all right. The answer to every CFAI ethics question that involves a violation is that it violates Section 1(A)… :wink:

#10

thanks for the feedback guys!! marching on!