Peter Taylor works for Omega Investments, an investment firm that is struggling with financing and is likely to close soon under the weight of redemption. Peter wants to start a small independent practice as a fall back option if the firm closes. Which of the following statements is correct under the CFA Code and Standards? Peter needs to obtain written consent from his employer for the independent practice since it could result in compensation or other benefits in competition with the firm CFA Institute members and candidates are prohibited from pursuing independent practice that might be in competition with their employer Since the firm is likely to close, Peter does not need permission from his employer and can start his independent practice. He must disclose his independent practice only when he starts making money
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Step 1: According to CFA Institute Standards of Professional Conduct, members and candidates are prohibited from engaging in any conduct that is detrimental to the interests of their employer. Show more…
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