This one confused me on my first day of studying and haven’t gotten back to it until now. I always come to this and believe that the member should adhere to more strict country. Maybe i’m not understanding the law of locality. Applicable law: Member resides in MS country, does business in LS country; MS law applies, but it states that law of locality where business is conducted governs. Duties: Member must adhere to the Code and Standards. Explanation: Because applicable law states that the law of the locality where the business is conducted governs and local law is less strict than the Code and Standards, the member must adhere
This one as well: Law: Member resides in MS country, does business in LS country with a client who is a citizen of LS country; MS law applies, but it states that the law of the client’s home country governs. Duties: Member must adhere to the Code and Standards. Explanation: Because applicable law states that the law of the client’s home country governs (which is less strict than the Code and Standards), the member must adhere to the Code and Standards.
sfagan Wrote: ------------------------------------------------------- > This one confused me on my first day of studying > and haven’t gotten back to it until now. I always > come to this and believe that the member should > adhere to more strict country. Maybe i’m not > understanding the law of locality. > > Applicable law: > Member resides in MS country, > does business in LS country; MS > law applies, but it states that law > of locality where business is > conducted governs. > > Duties: > Member must adhere to the Code > and Standards. > > Explanation: > Because applicable law states that > the law of the locality where the > business is conducted governs > and local law is less strict than the > Code and Standards, the > member must adhere This bothered me at first too. sfagan, here is the key sentence you need to pick out: “but it states that law of locality where business is conducted governs.” Where the dudes conduct business is in LS country, and that sentence above explicitly states that LS law applies. Because LS law is less strict than Code of Ethics, Code of Ethics applies In the second one you posted, the key sentence is: “MS law applies, but it states that the law of the client’s home country governs.” Because it explicitly states that the client’s home country’s law is the one to follow, this refers to LS law. LS law is less strict than Code of Ethics, so follow COE The wording is tricky, the other information is to throw you off. Make sure you pick out those explicit sentences and follow what they tell you.
sweet got it. Thanks ALIMAN hEY do you know where we are writing? It says stampede grounds on the website but do you know if its in the roundup centre or where abouts?
Calgary Stampede Big Four- Hall C Lower Level Write the exam --> go to the casino --> go to the bar
haha that definitely crossed my mind when I saw it was on the stampede grounds