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- Topic: Is shoplifting a violation of CFA standard I?
| Author | Topic: Is shoplifting a violation of CFA standard I? |
|---|---|
| charter123 @2011-09-01 09:02:40 |
A CFA charterholder is caught shoplifting and is sentenced to nine months in prison. Is this a violation of Standard I(D)? A) Yes, because the prison sentence is more than six months. B) Yes, because the crime involved stealing C) No, because the prison sentence is less than one year. D) No, because the crime does not relate to the investment profession |
| roquefort @2011-09-09 15:51:52 |
B) Yes, because the crime involved stealing. - He didn't act Professionally. It will create bad impression on the overall investment community/portfolio managers |
| performance @2011-09-10 23:17:47 |
I am a little confused though. If he was caught stealing, then this might reflect poorly on his professionalism too and if that's the case, then it's a violation. On the other hand, if the act has nothing to do with his profession, and does not reflect on his capacity as an investment professional, then it's not a violation. I wish there was more information. |
| richa2008 @2011-09-10 23:53:40 |
I'd go with B. Members and candidates must not engage in any professional conduct involving dishonesty, fraud, or deceit or commit any act that reflects adversely on their professional reputation, integrity, or competence. |
| swati4891 @2011-09-26 14:01:32 |
Definitely b, its misconduct |
| Suzann @2011-10-16 14:09:10 |
I think, the answer is B, because the crime involved stealing. If you refer to the actual Ethics handbook on p. 35 there is example as follows "Example 4. Carmen Garcia manages a mutual fund dedicated to socially responsible investing. She is also an environmental activist. As the result of her participation at nonviolent protests, Garcia has been arrested on numerous occasions for trespassing on the property of a large petrochemical plant that is accused of damaging the environment. Comment: Generally, Standard I(D) is not meant to cover legal transgressions resulting from acts of civil disobedience in support of personal beliefs because such conduct does not reflect poorly on the member or candidate’s professional reputation, integrity, or competence." -https://www.cfainstitute.org/cfaprog/courseofstudy/sample.html There is important info there "such conduct does not reflect poorly on the member or candidate’s professional reputation, integrity, or competence". Obviously stealing does reflect poorly on reputation and integrity. Therefore, I think that B is the correct answer Regards, Suzann |
| Mikehuynh @2011-10-17 00:38:55 |
B is the correct answer since it involves Misconduct |
| Mstudy @2017-12-22 15:29:38 |
The answer is most likely B. One can rule out A and C because there is no time period specified in 1d. Stealing would be an example of something dishonest so it has to be B |
