Say 10 hours a week.
My take: If it doesnt compete w/ current employer and the time commitment doesnt take away from your job at current employer - I would say no.
no as in dont have to disclose or get consent?
I would say do not disclose (no conflict of interest, right?) and no need for prior consent (doesn’t harm employer, right?) regardless, ethics WILL bring the pain tomorrow.
Disclose, because you receive monetary compensation, but no need to have consent. Now if its say 30 hrs week it is expected to interfere so you would need consent I think
Don’t disclose unless it interferes with your other job.
so these last two posts agree with each other. disclose only if it interfreres with yoru job but 10 hours would not interfere. 30 horus woudl and for that you get consent.
I say disclose. Look at the example given in the CFA text in relation to receiving a free gym membership.
the show NY Wrote: ------------------------------------------------------- > page? Bottom of page 75 through page 76.
I believe everything you receive some kind of compensation for has to be disclosed. I believe it is a matter of do I get consent or not? and it is yes if it interferes
Agree. This should be disclosed. But consent is probably not needed as it doesn’t compete nor does it reasonable affect performance on the job.
Well, I guess you need no consent now…there is a schweser mock q on volume 1, exam 3, it says she doesn t need to disclose a bartending job thats 6 hours a week because it doesn interfere with her job…
no way, no disclosure or consent necessary.
compensation from clients for past services (eg use my ski cabin because you earned me 20% last year)= disclosure compensation from clients for future services (eg a bonus every year you beat the S&P)= consent compensation from an outside source that competes/creates a conflict = consent compensation from an outside source that has no impact at all on current job (bartending, babysitting, personal trainer, waiting tables) - no consent required…
I think smiley got it!
Okay, then how do you explain this? Taken from the CFA SOPH: “Example 2. Terry Jones sits on the board of directors of Exercise Unlimited, Inc. In return for his services on the board, Jones receives unlimited membership privileges for his family at all Exercise Unlimited facilities. Jones purchases Exercise Unlimited stock for the client accounts for which it is appropriate. Jones does not disclose this arrangement to his employer, as he does not receive monetary compensation for his services to the board. Comment: Jones violated Standard IV(B) by failing to disclose to his employer benefits received in exchange for his services on the board of directors.” This is why I do not rely on Schweser/Stalla for ethics.
he’s buying stock for the accounts he manages when he sits on the board of that stock…thats a conflict of interest…its a completely different scenario than waiting tables 10 hours a week
But Standard IV(B) also goes on to say the following (taken from SOPH): “Members and candidates should make an immediate written report to their employer specifying any compensation they propose to receive for services in addition to the compensation or benefits received from their employer. This written report should state the terms of any agreement under which a member or candidate will receive additional compensation; terms include the nature of the compensation, the approximate amount of compensation, and the duration of the agreement.”