CFA Latest CFA Level 1 Discussions Question of the Week – Ethical and Professional Standards

Question of the Week – Ethical and Professional Standards

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    • AdaptPrep
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      Joyce Price issues weekly investment reports.
      Joyce looks for trends and commonalities within the research community. She
      then presents the findings as her own research and doesn’t cite any sources.
      Joyce gives them to her boss, Soojung Yu, CFA. Soojung peer-reviews the reports
      and does not mention anything about citing sources. Has Soojung most
      likely
       violated the
      Standards?

      • Yes, regardless of whether Joyce if a CFA Member, Charterholder, or
        Candidate
      • Yes, if Joyce is a CFA Member, Charterholder, or Candidate
      • No
    • AdaptPrep
      Participant
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      The Standards which apply are:

      Misrepresentation.
      Members and Candidates must not knowingly make any misrepresentations relating
      to investment analysis, recommendations, actions, or other professional
      activities.

      Responsibilities
      of Supervisors. Members and Candidates must make reasonable efforts to detect
      and prevent violations of applicable laws, rules, regulations, and the Code and
      Standards by anyone subject to their supervision or authority.

      Soojung is responsible to make reasonable
      efforts
       to prevent
      Joyce from violating the Standards. If Joyce isn’t a CFA Member/Charterholder/Candidate,
      Joyce isn’t responsible for fulfilling the Standards, but Soojung is still responsible
      as a supervisor.

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