Joe Biggs is resident in country A that prohibits action Z. Joe biggs performs action Z in country B, which has lax laws that allow it. The CFAI ethical standards also allow action Z. Can Joe perform action Z without violating ‘knowledge of law’ in ethical standards?
My initial thought would be that it is fine, but many times I have seen the maxim ‘whichever is stricter’. However, I’ve seen questions where this doesn’t seem to apply (e.g. Joe can perform Z as it complies with the standads. Thoughts?
This question is incomplete. What is applicable law here ???
Law of locality (where business is conducted) governs or Law of home country governs ??
Once it’s decided then compare it with C&S. The “more strict” will apply
If Law of home country governs then it will be followed as it is more strict than C&S.
if Law of locality (where business is conducted) governs then either local law or C&S will be followed as both allow action
Ahhh, I see, whichever law governs is taken and the stricter of that and the C&S is used.
Thanks Raza!