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

An analyst at an asset manager has revised her Standard V(B) disclosures following the 2023 changes to the Code and Standards. Which new requirement was added to Standard V(B): Communication with Clients and Prospective Clients?

The 2023 revision of Standard V(B) added a requirement to make disclosures about the nature of the services provided and the costs to the client associated with those services. Regulator-wide disclosure of reports and bans on prospective-client communication are not part of the Standard.

  1. ADisclosures about the nature of the services provided and the costs to the clientCorrect
  2. BDisclosure of every research report to all regulators
  3. CA ban on communicating with prospective clients

Explanation

The 2023 revision added to Standard V(B) a requirement on disclosures about the nature of the services provided by members and candidates and the costs to the client associated with those services. The other options describe requirements that do not exist in the Standard.

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