标题: Ethics Standard 1A [打印本页] 作者: pawn 时间: 2011-7-11 19:10 标题: Ethics Standard 1A
I am a manager located in Holland.
I have clients in Holland and Sweden.
Internal crossing trades are allowable under Swedish law, but not Holland's.
Per Code and Standards, internal crossing trades cannot be conducted for any client because the fund is located in Holland.
If the fund was located in Sweden, would internal crossing trades be acceptable, if only applied to their Swedish clients? Or is it a violation since clients are not being treated fairly?
NO EXCUSES作者: jmh530 时间: 2011-7-11 19:10
I'd think you have to pick the strictest regime, and use that. Since code and standards says not allowed, I don't think you can.作者: lcw77 时间: 2011-7-11 19:10
you absolutely can if the fund is located in Sweeden.
Think of it this way:
you are a manager in Sweeden with only Sweedish clients - therefore you can internally cross since Sweedish laws have no restriction on this.
one day a company from Holland approaches you to manage their pension fund.
Just because you take on the account does not mean you can no longer internally cross for your Sweedish clients, you just can't cross them with your Holland clients.作者: justin88 时间: 2011-7-11 19:10
another note on this, if i remember right,
clients must be treated FAIRLY but not necessarily EVENLY, therefore if there was disclosure about this to the Holland clients then it would be fine (i think)
