标题: Reading 1- LOS B-Q4 [打印本页]
作者: cfaedu 时间: 2008-3-31 21:49 标题: [2008] Session 1-Reading 1- LOS B-Q4
Did Johnson's supervisor violate the Code and Standards when she told Johnson about a more effective way to hide assets?
A) | No, because the supervisor specifically stated that, "I cannot suggest" that you open an account in the name of a fictitious firm. |
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B) | No, because any conversation between an investment professional and his/her supervisor that concerns information about a client is considered confidential and privileged. |
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C) | No, because the supervisor did not take specific action that violated the law. |
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D) | Yes, because the supervisor assisted in an apparent violation of law. |
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作者: cfaedu 时间: 2008-3-31 21:49
The correct answer was D
Johnson's supervisor violated the Code and Standards when she told Johnson about a more effective way to hide assets. Standard I(A), Knowledge of the Law, states that "members shall not knowingly participate or assist in any violation of such laws..."Giving information about which illegal act will most benefit Campbell falls into this category. Stating that "I cannot suggest doing this," does not avert blame from the supervisor. She has assisted in the violation of the law by suggesting how best to break the law. Also, there is no confidentiality relationship between investment professionals and their supervisor.
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