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Basic Question 3 of 7
Alan works for an investment bank with headquarters in New York City. He lives and works in a developing country where local securities laws and regulations are less strict than CFA Institute's Code and Standards. Which securities law and regulations should Alan be subject to?
User Contributed Comments 10
| User | Comment |
|---|---|
| kalps | CFA Institute stricter, then should abide by CFA Institute code of conduct, if counrty law stricter then abide by country law code of conduct i.e. strictest law applies |
| baple | if he resides in the foreign country , then he needs to abide by local /foreign and code and standards. Here the assumption is he resides in the local country where the laws are less stricter than the code & standards |
| durikang | The code and standards |
| ptyson | always remember the stricter set of rules should always be abided by |
| morek | Is it the stricter of the local country or CFA Inst? or is the NYC headquarters relevant if that is stricter? |
| Renaud1807 | What happen with the US law? |
| Bududeen | should be subject to the stricter of the SEC laws and CFA codes and standards |
| johntan1979 | I suppose we need to understand the context of the question asked. It is not mentioned anywhere in the question whether the US law or CFA code is stricter or otherwise. Therefore, the answer should compare only the stricter of foreign law and CFA code. |
| gerdvar | Makes sense johnatan1979 |
| cfastudypl | johntan1979, you may wish to read the question again when it says:...where local laws and regulations are less strict than CFA Instiute's Code and Standards. |
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Learning Outcome Statements
demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity
recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct
identify conduct that conforms to the Code and Standards and conduct that violates the Code and Standards
CFA® 2025 Level I Curriculum, Volume 6, Module 3.