AuthorTopic: Help Ethics Volume book One Question!
@2015-10-23 19:55:52
Hi guys
In CFA Volume 1 , Ethical and Professional Standards book, pg 21

It says there are 3 different types of countries, and under the table applicable law it says the following:

Member resides in NSL country, does business in LS country, LS law applies what does that really mean??

Firstly, I thought it was meant the stricter law will be the applicable law , but when I read more examples it says:

Member resides in LS country, does business in MS country; LS law applies

It really confusing for me hope you guys can help me :)cheers
@2015-10-28 23:39:41
The LS law is referring to what the applicant is required to comply with under law.
The CFA standards create a method of selecting the most strict law to ensure compliance.
Because the individual is residing in one country and doing business in another, both laws become comparable.
In short, choose the most strict law that the individual has some connection with.
I hope that helps.

CFA Discussion Topic: Help Ethics Volume book One Question!

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I used your notes and passed ... highly recommended!