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

Question of the Week – Ethical and Professional Standards

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    • Avatar of AdaptPrepAdaptPrep
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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
      • Avatar of AdaptPrepAdaptPrep
        Participant
          • Undecided
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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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