can someone explaine this pls?
I can’t understand No.16 in CFAI MOCK, morning session.
what does ‘precleared transactions are approved only for that trading day’ mean?
also, why purchase after receiving prior clearance violated her employer’s compliance procedures?作者: ramdabom 时间: 2013-4-3 10:28
i assume you are talking about preclearance of transactions that can potentiallly have a conflict of interest.作者: prav_Cfa7 时间: 2013-4-3 10:50
Hi Steph,
When I was working at JP Morgan we had to go through a pre clearance process. Essentially, employees are required to send a request for approval to trade a stock. Turnabout was roughly 2 4 hours. I’m not sure about what their internal controls or measures are since it east my department. The reason employees needed to go through preclearance was to create barriers to insider trading. As an accountant, I would be responsible for reconciling trades that would occur the following day. Which is material nonpublic information.作者: koba 时间: 2013-4-3 10:55
