Page 216 of the cfa book vol1 bottom page the head of a company states “we are not going to consider any compliance changes at this time.” Should Nanos then not resign ? (See question 9)?
Nope, only don’t take up supervisory responsibilities. Code and Standards apply to individuals and not firms (although firms are “encouraged” to adopt them). However, in order to carry out “Responsibilities of Supervisors” (standard 4C) the firm should have adopted the Standards thereby allowing the supervisor to adhere to this standard.