Recommended Procedures

Statement 2 Every six months, you will be mailed an itemized investment statement with cash flows so that you can see if your portfolio is meeting your investment objectives. In addition, you can obtain other information about our firm and investment process from our website, which is updated on a regular basis to ensure the integrity of the site as well as offer confidentiality and security to our clients. For your security, we do not post client statements on the website.


Does Okello’s Statement 2 violates the CFA Institute Standards of Professional Conduct?

I think it violates.
First, “Every six months” is too long.


This also seems not right. You should mail everything the clients should know, at least in brief. Just putting those information on the website is not enough and not mandatory . Also, as for “on the regular basis”, what if there’s material changes in investment process are you gonna wait until the “regular date” instead of mailing this change to your client immediately?

I’m not quite sure about the exactly recommended procedures but there’ll be answers following this question in the book.

1 Like

as Okachiang says, every 6 months is too long

p.99 of the pdf (the actual page number is p85) recommends at least quarterly (3 months)