Hypothetically - if I was to receive confidential client info from a brokerage company I deal with, would I be better off terminating my engagement with them, or just ignoring the information?
I would have thought you would report it to your compliance officier / supervisor, and advise the client to stop sending you this information. Unfortunately, in your hypothetical question you don’t seem to have that option. If pushed, and presuming your hypothetical question only had two answers, I would guess for ignoring, but that would be a guess.
Try to make it public or ignore? Ignore doesn’t seem logical in the real world…I would have to guess between those two in that situation
i said terminate if i had been asked such a question :). seems like too big of a thing to just ignore IMO.
I thought at first to just ignore, but then I though knowledge with continued association may be perceived as involvement?? No?
anytime you’re in a situation where the info is non public, the answer is to encourage the company to make public, however in this case, the option was simply “make publlic yourself”. For this reason, i went with stop doing business with them.
I fired the firm. I don’T think that you should continue to do business with a company that is doing fraudulent things… Ponpon
Avoid the perception of misdoings and unethical behavior… you can’t just ignore!?!
ponpon - I agree I had fire them…they were brutal and not the type of client i would think CFA would want us to be doing business with
terminate. passing along that information would be illegal. if it were my firm I would terminate in a heart beat.
I had to go with terminate. Making public on my own isn’t my business, then I break the rules of access. What about a manager who breaks your IPS and makes no bones about it. Do you fire them even if they are conected in your county, or do you limit their exposuire in the portfolio.
I had to reread this question several times - the question stated what would you do in regards to “using the information”? The answers that I was torn between was (1) terminate the relationship (2) Ignore the information and not use it in the report. I think both were a reasonable answer and probably would both be what you would do - but the question was specifically asking “regards to using the information” so I went with #2.
I used #2 for this one as well
That is as good as gold for me!
I said terminate as well, you need to disassociate from illegal behavior and that was clearly illegal on their part.
Yep - that would be a good answer if the question was - “what would be the best response in regards to the relationship to the customer” or if the other answer wasn’t in there.
I’m not going to argue about the PM session. I think most people will score at least 80% and up on that one, I’m going to focus on the morning one.
+1 for terminate
- 1 for terminate Reason is: the idea that it would be permissible to have access to such information seems ridiculous.