canadiananalyst

Your still thinking about it from the wrong point of view. "Strict" is easily defined in an ethical or legal sense, but not in a performance sense. Take the "3 year ex-post standard deviation" provision. Lets say country X, thinks standard deviation is the biggest load of cr@p that ever came into statistics and mandates that you can never make reference to it.

Do you think GIPS or country X's law is stricter? It doesn't matter to be honest. You follow country X's law and disclose.

Your opening quote in your last response deriv108 needs to be put into the context that the next sentence in your opening post brings.

"Compliance with applicable law and/or regulation does not necessarily lead
to compliance with the GIPS standards. In cases in which laws and/or regulations conflict
with the GIPS standards, firms are required to comply with the laws and regulations and make full disclosure of the conflict in the compliant presentation."