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CFA Level I · CFA Level I Exam · Code of Ethics and Standards of Professional Conduct

After a PC staff investigation, a candidate rejects the proposed charges and sanction for an alleged violation. The matter is most likely to proceed to:

The matter goes to a panel composed of Disciplinary Review Committee members. When a member or candidate rejects the charges and proposed sanction, DRC panels evaluate materials and presentations from PC staff and the candidate, then decide whether a violation occurred and what sanction applies.

  1. Aa panel composed of Disciplinary Review Committee membersCorrect
  2. Bthe CFA Institute Board of Governors for an immediate sanction
  3. Cthe candidate's employer for internal resolution

Explanation

If the member or candidate does not accept the charges and proposed sanction, the matter is referred to a panel composed of DRC members. The panel decides whether a violation occurred and, if so, the sanction. The Board oversees the PC group but does not directly sanction.

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