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More ethics - knowledge of law

I just want to clear something up about 1A, as there was a Schweser question about “Denise Chavez” (vol2 exam 1 q17) an environmental activist. The question says that she was arrested for tresspassing during an organised picket.
Given the answers I knew that this fact was actually irrelevant (as she should have disclosed her voluntary board member position to her current employer and the answers only gave that as a violation in one choice), but does being arrested for tresspassing not violate the standard?
The Schweser answer says that the standard wasn’t designed to cover civil disobedience but thats b*llocks to be honest, trespassing is trespassing. I’ve read over standard 1a since and it says you must comply to all standards and laws blablabla “governing their professional activities”.
Does that mean you can do whatever you want as long it’s not to do with your professional activity and not be breacing the Standards of Practice (although presumably any such activity will breach the code of ethics).

Speeding down the freeway to a meeting at 100mph in his new ferrari, Joe CFA gets a ticket and the officer decides to charge him with a misdemeanor excess speed. Is this a violation? Has nothing to do with his ethics or ability. There are alot of activities that are against the law that people do everyday, so I dont think the law is necessarily a good indicator of the standards. Lawyers get DUIs yet they are not disbarred. Should we be any more accountable? I dont think so.

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i feel like a right tit now. cheers

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Yes but if he was racing his client, then its a violation…..no matter how bad you beat his 1985 Topaz.

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^ summary is good, but what is this New Prudent Investor Rule

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I’m pretty sure the New Prudent Investor Rule is a more depth based question reserved for L2. Basically it is a measure of portfolio return, but in this case its a set of headings that can be adapted to this circumstance; risk management, evaluation in a portfolio context, security restrictions and delegation of duty. For your purposes you should just ignore it, the likelihood of it being on the exam is pretty nill.

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Not allowed:
Screaming “you want a piece of me!” to your boss who disagrees with your new model.
Flipping a coin to select stocks for a portfolio because CFAI says managers cant beat the market.
Have 3 martini lunches with anything less than 4x distilled vodka.
Be seen in a 1985 Topaz
Shop at the Mens Wearhouse.
Have a wife that hasnt participated in any modeling activities in her teens.
Ask a waiter “What is Fois Gras? ”
Accept weekend with clients sorority girl daughter as bonus compensation for excess returns.

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BizBanker’s last offer may be worth some time in penalty box for

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I LOVE THESE THREADS !!!
good mood always needed….
cheers
(let’s use ipod for a while…without CFA podcasts for sure!!!)

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