pawn

I think the while firm has to be GIPS compliant…and if only a division has to be compliant, then it has to be defined as a firm..i.e. how its independent from the rest of the company in terms of people, decision makers, assets etc.
So, for ex- if the PWM is independent from the rest of the firm, it can claim compliance…otherwise, the whole firm has to be GIPS compliant.
Hope that helps. Pls. correct me if I am wrong on this.