An analyst learns that a new securities regulation in her country is less strict than the relevant CFA Institute Standard. Which must she follow?

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Multiple choice — select the best answer

AThe local law, because law always governs
BThe CFA Institute Standard, because it is stricter
CWhichever is less strict
DNeither, since they conflict

✓ Correct answer: B. The CFA Institute Standard, because it is stricter Standard I(A) requires members to comply with the more strict of applicable law or the Code and Standards. When the Standard is stricter than local law, the member must adhere to the Standard.

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Topic: Ethical & Professional Standards

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An analyst learns that a new securities regulation in her country is less strict than the relevant CFA Institute Standard. Which must she follow?

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