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Basic Question 6 of 6
A CFA charterholder has decided to revise her firm's written compliance manual. She checks with counsel regarding changes to applicable laws, rules, and regulations. She incorporates these changes as well as changes to the Code and Standards in the new version and distributes copies to her staff along with a memorandum. The memorandum states that the updated manual includes compliance procedures designed to meet industry standards, regulatory requirements, requirements of the Code and Standards, and the circumstances of the firm. According to the Standards of Practice Handbook, did the charterholder violate any Standard of Professional Conduct?
B. Yes, because compliance procedures may not be designed to meet industry standards.
C. Yes, because compliance procedures should not be altered to meet the circumstances of the firm.
A. No
B. Yes, because compliance procedures may not be designed to meet industry standards.
C. Yes, because compliance procedures should not be altered to meet the circumstances of the firm.
User Contributed Comments 2
| User | Comment |
|---|---|
| Inaganti6 | She checked with the counsel too... |
| Smatouq | But is she allowed to change code & standards? |
I used your notes and passed ... highly recommended!
Lauren
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.