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Basic Question 1 of 9
A breach of fiduciary duty occurs if the insider personally benefits from a disclosure. Benefits can be ______.
II. a gift of information to others
III. through a quid pro quo relationship
I. pecuniary or reputational
II. a gift of information to others
III. through a quid pro quo relationship
User Contributed Comments 9
| User | Comment |
|---|---|
| kalps | Indriect or direct benefit - all benefits count |
| rethan | What is a quid pro quo relationship?i.e what does it mean? |
| Drzewes | it's latin for "something for something" |
| AUAU | What meanings for "pecuniary or reputational? |
| giroth | Pecuniary = monetary or money based reward reputational = benefit to how people view you |
| apiccion | quid pro quo = "I scratch your back, you scratch mine" Many business relationships are quid pro quo. One party does a favor with the expectation that the other party will do some unspecified favour in the future. |
| Eshe | i dont understand the question at all.Can someone please explain to me? |
| sshetty2 | I think this should say personally benefits from non-disclosure... |
| sshetty2 | a breach of fiduciary duty occurs if the insider personally benefits from non-disclosure of the below mentioned potential business ties ie a pecuniary/reputational arrarangement, a gift of information to others and/or through a quid pro quo relationship with a brokerage/third party that handles operations on the back end (usually research or trade) and gets paid "soft dollars" for these services.. |
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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® 2024 Level I Curriculum, Volume 6, Module 3.