Glen Stokoe is chief investment officer for the National Infrastructure Fund (NIF), a sovereign wealth fund set up by the government. He has become concerned that highranking politicians have begun to seek influence over which investments are selected by NIF. Which of the following procedures would be most appropriate to implement in order to address this issue?

Group of answer choices

Enforcing the disclosure of all conflicts of interest to investors

Implementing a strict governance framework that ensures due diligence and independence standards are met

Requiring that all investments are personally signed off by the Minister of Finance

Michael Lapin sits on the board of his local soccer team and regularly attends their matches as an avid supporter. In return for his services on the board, Lapin receives unlimited membership privileges for his family at all of the soccer club facilities, including the use of vehicles owned by the club and the use of the club's gymnasium facilities. Lapin and his family also get to attend all matches free of charge. Lapin does not disclose this arrangement to his employer because he does not receive monetary compensation for his services and the soccer club is not in direct competition with his employer. Lapin owns a small holding in the soccer club in one of his client accounts. Lapin has most likely:

Group of answer choices

Not violated Standard IV(B): Additional Compensation Arrangements because the soccer club is not in direct competition with his employer.

Violated Standard IV(B): Additional Compensation Arrangements by failing to disclose the arrangement.

Not violated Standard IV(B): Additional Compensation Arrangements because the compensation is nonmonetary.

Which of the following situations is least likely to lead to a violation of Standard IV(B): Additional Compensation Arrangements?

Group of answer choices

Full written consent is given by the employer prior to entering into the agreement.

Full written disclosure is given to the employer prior to receiving any additional compensation.

Verbal disclosure is given to the employer prior to entering into the agreement.

According to the recommended procedures for compliance with Standard II(A): Material Nonpublic Information, a member or candidate who receives such information should make reasonable efforts to achieve public dissemination of the information through:

Group of answer choices

Encouraging the company to make a public announcement.

Issuing a public statement through their firm.

Disclosing the information to a news provider.

Matthew Segall is a broker working for Mostdirect Brokerage LLC. Segall has recently come under pressure at his employment because a major client stopped trading and caused his commission levels to fall dramatically. In response to this, Segall calls an old school friend, Bob Angler, who works at LoyalT Investments, a major buyside investment company. Angler manages the pension plan assets of several large corporations. Segall asks Angler to consider adding Mostdirect to the approved broker list of LoyalT, something that Angler quietly does without consulting his supervisor. Have Angler's actions breached Standard VI(A): Conflicts of Interest?

Group of answer choices

Yes, because he should disclose his relationship with Segall to his employer.

Yes, because he should not do business with people with whom he has a personal relationship.

No.

Didier Sands is head of a research unit at a major investment bank. He is aware that his analysts frequently enquire as to what level of travel expenses they should be able to accept from corporate issuers that they cover. According to Standard I(B): Independence and Objectivity, Sands should tell his analysts that best practice is to:

Group of answer choices

Never accept any travel expenses from companies that they cover.

Only accept modestly arranged travel when commercial transportation is unavailable.

Accept modest travel expenses but must not accept hotel expenses.

Colin Drinkwater works for the pensions department of Edward Duke Financial Advisers. He receives compensation for each referral he makes to Edward Duke's life assurance department that results in a sale. Drinkwater's employer is aware of the referral arrangement, but clients are not informed. With respect to the requirements of Standard VI(C): Referral Fees, which of the following is most accurate?

Group of answer choices

Drinkwater violated the Standards because interdepartmental referral fees are prohibited under the Standard.

Drinkwater violated the Standards by failing to disclose the referral arrangement to his clients.

Drinkwater is in compliance with the Standards because interdepartmental referral fees are not covered by the Standard.