The qns i like to ask is retrieve from the qbank. ============================================ Jason Blackwell, CFA, works as an investment manager for Mega Capital, a large multinational brokerage firm. He resides in a country whose applicable law is stricter than the Code and Standards but does business with clients in a country whose applicable law is less strict than the Code and Standards. Blackwell decides to follow the Code and Standards for clients in the less strict country. While Blackwell is still employed at Mega, Lego Associates verbally asks Blackwell to review client portfolios during evenings and weekends for a fee. Blackwell gets written consent from his immediate supervisor at Mega to undertake this independent activity for a one-month trial basis. Which of the following statements about Blackwell’s actions involving Standard I, Professionalism, and Standard IV(A), Loyalty is most accurate? Blackwell: A) violated Standard I but did not violate Standard IV(A). B) violated both Standard I and Standard IV(A). C) did not violate either Standard I or Standard IV(A). Your answer: A was correct! Blackwell violated Standard I, Professionalism. Because the applicable laws in his resident county were stricter than the Code and Standards, he must adhere to the more strict applicable law. ================================================= i remember i read before that if a country has stricter laws than the code and standards, he should follow the laws of the country. If the country has code and standards stricter than the law, he should follow the codes and standards. Based on the qns, it state that "Blackwell decides to follow the Code and Standards for clients in the less strict country."I believe this is correct. However the explanation for qbank answer states that since his resident law is stricter, he should follow the his resident law. Anybody like to share their views? thanks:)
he followed the Code & Standards instead of the stricter laws of his home country= violation…in any of these questions, you are supposed to follow the more strict laws. Let me know if this helps. Andrew