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- 2016-4-19
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Some Ethics Questions !! (yes again)
Hello all,
I need your help for the following Ethics Q’s. :
1/Dan Jeffries is a portfolio manager who is being sued by one of his clients for inappropriate investment advice. The Professional Standards and Policy Committee (PSPC) of CFA Institute is also investigating Jeffries for the same offense. Jeffries settled the lawsuit with the client with the settlement agreement requiring that the client not divulge any aspects of the case or the settlement to any non-governmental authority. When the PSPC questions Jeffries about the problematic investment advice, Jeffries claims he cannot talk about it because doing so would violate the confidentiality of his client. Jeffries has:
A) violated the Standards by executing the settlement agreement, but not by refusing to talk about the case with the PSPC.
B) violated the Standards by refusing to talk about the case with the PSPC, but not by executing the settlement agreement.
C) not violated the Standards.
D) violated the Standards by executing the settlement agreement and refusing to talk about the case with the PSPC.
It seems that the answer is D but I dont understand why.
2/According to the Standards of Practice Handbook, which of the following activities is least
likely to breach a member’s duty to a client?
A. Failing to vote proxies.
B. Failing to establish the investment objectives of the client.
C. Using soft dollar arrangements to pay firm management expenses.
D. Disclosing confidential client information to the CFA Institute Professional Conduct
Program.
Is it D ??
3/Anthony Buchard, CFA, disclosed a complaint by a former client on his annual professional
conduct statement. The CFA Institute Professional Conduct Program sent Buchard a Notice
of Inquiry and requested a copy of the client complaint. Buchard provided a copy of the
complaint; however, several parts of the complaint were blackened out. Buchard refused to
provide a complete copy of the complaint because it contained confidential client
information. According to the Standards of Practice Handbook, Buchard should:
A. provide a complete copy of the complaint to the Professional Conduct Program.
B. maintain all client information as confidential, including the information contained in the
client complaint.
C. sign a confidentiality agreement with the client that requires Buchard to keep the client
complaint confidential.
D. disclose only those parts of the complaint that contain information related to the client’s
illegal activities or that are outside the scope of the confidential client relationship.
I guess it is A but very unsure…
Your help would be very much appreciated because it is soooo tricky for me.
Thanks !
Nicolas |
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发表于 2013-3-30 20:47
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