Which of the following statements is most likely correct? A member or candidate:Group of answer choicesmust report evidence of legal violations to the appropriate governmental or regulatory organization.can participate or assist in a violation or not taking action to stop it.is held responsible for participating in illegal acts in instances where violation of the law is evident to those who know or should know the law.destroy all the evidence of illegal actions
Question
Which of the following statements is most likely correct? A member or candidate:Group of answer choicesmust report evidence of legal violations to the appropriate governmental or regulatory organization.can participate or assist in a violation or not taking action to stop it.is held responsible for participating in illegal acts in instances where violation of the law is evident to those who know or should know the law.destroy all the evidence of illegal actions
Solution
The statement that is most likely correct is: "A member or candidate must report evidence of legal violations to the appropriate governmental or regulatory organization."
The CFA Institute's Code of Ethics and Standards of Professional Conduct require members and candidates to uphold the integrity of the profession and to act with integrity, competence, diligence, respect, and in an ethical manner. This includes reporting any evidence of legal violations to the appropriate authorities. Participating in, assisting in, or not taking action to stop a violation, as well as destroying evidence of illegal actions, would be in direct violation of these ethical standards.
Similar Questions
Which of the following statements is NOT a goal of incident handling and response?Group of answer choicesTo prevent future attacks or incidentsTo prosecute legal activityTo maintain or restore business continuityTo analyze the cause of an incident
“A person who is a party to an agreement to commit an unlawful act,” is the definition of a/an:Group of answer choicesconspiratorabettorfriendenemy
Which of the following statements is correct?Group of answer choicesThe legal duties for directors under Corporation Act and CATSI Act are different.
Which of the following statements is/are incorrect?Statement I: An advocate is duty bound to not act in an illegal manner towards the opposite party.Statement II: An advocate is duty bound to represent clients in all circumstances.
Which of the following statements is NOT correct?Group of answer choicesIncorporated associations can sue and be sued under their own nameIncorporated associations have a restriction on the ability to carry on a business or a tradeIncorporated associations can enter into contractsThe committee members in an incorporated association are generally liable for the debt of the associations
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.