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Ethics question(Book1 p.23 Exhibit1)
Hi,all
Book1 p.23 Exhibit1
I use CFAI text for the first time in L3...
In the first column of Exhibit1("applicable law"),
(first row)
Member resides in LS country, does business in NS country;
LS law applies, but it states that law of locality where business is conducted governs.
* LS: country with less strict securities laws and regulations than the Code and Standards
* NS: country with no securities laws and regulations
I can't understand this explanation..
If the local law governs, there is no applicable law isn't it?
Please correct my understanding..
Thanks in advance. |
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发表于 2011-7-13 14:45
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