Ethics - Is IPS a requirement or recommendation?

CFA Level III
#1

CFAI Volume 1 pp61-62 - Is IPS a requirement or recommendation? It appears under both sections!

#2

Not positive but would think its a requirement given the amount of time spent on the topic But will wait for others to opine…

#3

Requirement or Recommendation!! Is this related to GIPS or Ethics?? I remember to have read that Defined Contribution PP IPS is a requirement, I guess by the law for allowing sufficient investment alternatives, freedom to move between alternatives, literature on options available etc

#4

This was related to Ethics. Well, now that you mention it, want to know both. 1) Under Ethics i.e. the CFA Standards, is IPS a requirement or recommendation? 2) Under GIPS, is IPS a requirement or recommendation? Thanks in advance!

#5

Haven’t seen this in either

#6

Please read CFAI Volume 1 pp 61-62.

#7

I think its an implicit requirement (or maybe explicit, I don’t remember). I don’t think you’d be following your “Duties to Clients” if you didn’t create one.

#8

Requirement under Ethics. GIPS - REQUIRED to follow an IPS ‘IF’ there is one in place. Otherwise, recommended to have one if there is none.

#9

Requirement! Helps make things eaasier for the client and the manager