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Ethics - Directorship

Apparently, according to the asset mgmt code,  it is not ok to hold a directorship position in a company if it poses a conflict of interest. according to EOC 8 in that reading.
This IS ok under the Code and Standards as long as it is disclosed, but NOT under the Asset manager code. which I find rediculous.

I don’t think there is a difference. It clearly says, “Schmmidt does not disclose his board service to SZR clients” in the case. And since he is receiving stock options and it is a conflict of interest, wouldn’t he need written permission from all parties involved?

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