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CFA Level I · CFA Level I Exam · Application of the Code and Standards: Level I

A regional brokerage firm wants to state publicly that it follows the CFA Institute Code and Standards. The firm has ensured its own code of ethics meets the principles of the Code and Standards. The most appropriate action is for the firm to:

The firm should claim compliance using the prescribed statement, which says it claims compliance with the Code and Standards and that the claim has not been verified by CFA Institute. Verification beforehand and a charter held by every employee are not required.

  1. Await for CFA Institute to verify its compliance before making any claim
  2. Bclaim compliance using the prescribed statement noting that CFA Institute has not verified the claimCorrect
  3. Cclaim compliance only if every employee has earned the CFA charter

Explanation

Once a firm ensures its code meets the principles, it should state that it claims compliance and that the claim has not been verified by CFA Institute. No verification or charter requirement for all employees is stated.

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