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bchadwick

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tT
发表于 2011-7-13 16:10 | 只看该作者

2011 Mock Question 8

matter, interest, conflict, 2011
The answer to this implies that Additional Compensation Arrangement is only for conflict with employer's interest? If it conflicts with client's interests, it does not matter?
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aidebaobao

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2#
发表于 2011-7-13 16:10 | 只看该作者
no it is already disclosed to employer.

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canadiananalyst

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3#
发表于 2011-7-13 16:10 | 只看该作者
manishsd Wrote:
-------------------------------------------------------
> The answer to this implies that Additional
> Compensation Arrangement is only for conflict with
> employer's interest? If it conflicts with
> client's interests, it does not matter?

Not sure what you are referring to, but is it the one where the employers had an internal contest with a monetary reward for whoever opens the most accounts?

If so, then there is no apparent violation as far as I can see. It WOULD be a violation, however, if the employer had an internal contest with any type of valuable reward for those who outperform a benchmark (or anything performance related), as it would create a conflict of interest, i.e., the manager might seek additional risk not suitable for client portfolios.

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mik82

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4#
发表于 2011-7-13 16:10 | 只看该作者
Manishsd, you are thinking of referral fees, which is part of Standard VI - conflict of interest.
The additional compensation clause only applies as part of duties to employer, whereas what you are thinking of is referral fee, which states that "members must disclose to their employer, CLIENTS, and PROSPECTIVE CLIENTS, as appropriate any compensation, consideration, or benefit paid to others for the recommendation f the products or services"

It is clear that the employees at OAM violated VI.C, but that is not what the question is asking.

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bodhisattva

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5#
发表于 2011-7-13 16:10 | 只看该作者
Thanks for the clarification - if there is a conflict of interest with client or employer (from additional compensation), it is "Standard VI - Conflict of Interest".

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