ROS vs Priority of Transactions
In the CFA ethics book did anyone notice that while question #26 p158 allows a PM to sell (when contracy to the firm's recommendation) as long it doesn't disadvantage current clients, question#6 p225 (in the ROS section) prohibits trading in a manner contrary to employee or firm's most recent recommendations. Is this an inconsistency - if not I didn't realize ROS could differ so much from the Standards. I didn't see either question on the errata. Please advise. |