Qbank Ethics wrong?

Question: Sue Parsons, CFA, works full-time as an investment advisor for the Malloy Group, an asset management firm. To help pay for her childrens college expenses, Parsons wants to engage in independent practice in which she would advise individual clients on their portfolios. She would conduct these investment activities only on weekends. Which of the following statements about Standard IV(A), Loyalty to Employer, is most accurate? Standard IV(A): Answer: does not require Parsons to notify Malloy of preparing to undertake independent practice under the current conditions. Explanation Standard IV(A), Loyalty to Employer, requires that Parsons obtain written consent only from her employer before she undertakes independent practice that could result in compensation or other benefit in competition with Malloy. It is not required to get permission from your employer when only preparing to go into independent practice. Am I missing something here? She is clearly engaging in independent practice that is similar to her full time job From the Handbook: Independent Practice. Included in Standard IV(A) is the requirement that members and candidates abstain from independent competitive activity that could conflict with the interests of their employer. Although standard IV(A) does not preclude members or candidates from entering into an independent business while still employed, members and candidates who plan to engage in independent practice for compensation must provide notification to their employer describing the types of service the members or candidates will render to prospective independent clients, the expected duration of the services, and the compensation for the services. Members and candidates should not render services until receiving consent from their employer to all of the terms of the arrangement.

There is a difference between setting up to start an independent business (getting the right permits, looking for funding, studying the idea itself, etc), and actually working in some independent business.

This is clearly detailed in the curriculum. Preparing to work in a different field, even as a direct competitor to your boss, requires NO approval from any party. Only before actually engaging in such work is approval necessary. This is to allow people to look for different jobs without having to notify their managers and be in violation of the code.

I misread the answer, it included ‘preparing’. thanks for the clarification