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Question of the Week - Ethical and Professional Standards

AdaptPrepAdaptPrep Des Moines, IA, USAPosts: 211 Sr Associate
edited June 2014 in Level 1 Questions
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?

Question of the Week - Ethical and Professional Standards 37 votes

Yes
91%
hairyfairyPranavCosmicDylanTobiGeorgeKopralu14AdaptPrepkaus22RoyDHmelendezdlarsen843nhavingatoyn231TheNatureBoyjmsatchwellSharvey518jak5189krishTaTeemosimply_complex2 34 votes
Yes, if Joyce is a CFA member, charterholder, or candidate
0%
No
8%
BrentSchneiderTitan33ashiqshaik 3 votes

Comments

  • AdaptPrepAdaptPrep Des Moines, IA, USAPosts: 211 Sr Associate
    Yes
    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 responsible as a supervisor.
  • shannondailyshannondaily St. Louis, MOPosts: 72 Sr Associate
    Yes
    Woo! I got it right. :smile: 
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