Standard IV (B.4): Compliance Procedures and Code of Ethics | CFA Level 1 Exam | Test Prep

Standard IV (B.4): Compliance Procedures and Code of Ethics

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Question

In order to comply with Standard IV (B.4), Priority of Transactions, firms should prepare and distribute to firm personnel a code of ethics and compliance procedures. The code and procedures should do all of the following, EXCEPT:

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A. B. C. D. E. F.

F

The question deals with the compliance procedures under Standard IV (B.4). Personal transactions must be defined to all employees. The number of access persons - those who have knowledge of pending or actual recommendations or action - should be limited, by implementing Fire Walls.

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