CFA Level I · CFA Level I Exam · Guidance for Standard I: Professionalism
A CFA charterholder works in a country whose securities law is less strict than the CFA Institute Code and Standards. Under Standard I(A) Knowledge of the Law, the charterholder is most likely required to:
The charterholder must follow the Code and Standards. Standard I(A) says that in the event of conflict, members must comply with the more strict law, rule, or regulation, and here the Code and Standards are stricter than the less strict local securities law.
- Afollow the Code and StandardsCorrect
- Bfollow the local law only
- Cfollow whichever is more convenient
Explanation
Standard I(A) requires compliance with the more strict law, rule, or regulation when they conflict. Here the Code and Standards are stricter than local law, so they govern. Following only the local law would breach the standard.
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