- CFA Exams
- CFA Exam: Dec. 2020 Level 1
- Study Session 1. Ethical and Professional Standards
- Reading 3. Guidance for Standards I-VII
- Subject 1. Standard I (A) Knowledge of the Law
CFA Practice Question
There are 361 practice questions for this study session.
- report his findings to the appropriate supervisory persons in the firm.
- sever all his connections with the underwriting team if the matter is not remedied.
- seek the advice of the investment bank's general counsel. If he believes that the attorney is competent, he should follow the attorney's advice without material variation.
User Contributed Comments 7You need to log in first to add your comment.
Steps: 1) Report to the supervisor 2) Disassociate himself with the underwriting 2) Seek legal advice and rely on this as one would expect legal counsel to be competent
The case is where one "Knows" about a violation as opposed to "Feel" about a violation
Report his findings to the appropriate supervisory persons in the firm.
If the matter is not remedied, he should sever all his connections with the under writing.
Seek advice of the investment bank's general counsel. If he believes that the attorney is competent,he should follow the attorney's advice without material variation.
Firstly, escalate the right supervisor in his firm.
Secondly, if this issue is not remedied, he should do his best on his role.
If it is, he should disassociate this violation.
1) report incident to supervisor
2) if th situation is RECTIFIED then a review of procedures should occur to ensre issue is not repeated.
Another angle to ensure compliant business activities are maintained
if feels broken - talk to counsel
if knows broken - talk to supervisor
no one hears - disassociate i.e. leave the team/firm
Report -> Disassociate -> Inform or seek legal advice