Based on V© Record Retention, a member who changes firms most NOT rely on memory or material created at her previous firm.
Question: I thought we can use the knowledge we learned at pervious firm for the new job. Why this sentence mentioned we cannot rely on memory to create the analysis for the new company?
Thank you!
#FTFY
lol hashtag… dududu, by rely on memory, I believe that they mean memorizing material and just basically copy pasting things from rote memorization, which is really no different than plagiarizing (someone correct me if you have a different interpretation here). You are by all means allowed to use your knowledge and any skills you gained while employed at the other firm, it’s not as if you can just purge your brain of all information, nor should you. But lets say you have a high level of conviction in a specific stock/company which you used to cover at your old employer, and you elect to maintain coverage of that company at your new employer, which is perfectly fine. Your intention is to recommend the stock to your new firm’s clients. In such a case you would re-conduct your research by gathering all relevant data from available sources, much like what you would’ve initially done at your old firm. You would obviously use the same guidelines of diligence, prudence and objectivity and you would reissue an original research report based on your new reconstructed financial models at the new firm. If on the other hand you had copied all the research you’d conducted at your old firm on an electronic drive along with all the models, data sources, etc and used that to reproduce your recommendation, well… you have royally screwed up.
#FTFYFTFY
#touché
because if you go to a new firm and your new client says let me see proof how you came up with this crazy shizzle. you’re gonna be like well it’s at my old firm and they won’t give it to me. I’m gonna be like go f yourself you don’t know shizzle and i’m gonna pull all my money out now because you can’t proove to me anything.
If i’m going to give you a billion dollars to invest for me, you better be able to provide what i need besides just remembering your end result formula.
Put all records together with all equipment when you leave your current employer especially if he has not paid off your salary yet. Lol! I know the guy who took electric transformer from energetic company when he worked and put it into his garden.
Thanks everyone! It has been a while I checked the ethics portion.
I know I need to work on my grammars and writing skills and this is actually on my to do list after the CFA test.
I need to work on my English. However, due to lack of time, I chose Sitting Bull constructed response strategy.
why? it’s ok if eng isn’t your 1st language. they are only grading on keywords anyways. you probably have the advantage if that makes you feel better. just don’t say anything wrong BOOM PASS
Yeah, it’s all good Flashback. Niko ti ni ovdje nezna o cemu prica, prema tome take it easy 
When the Standards say that you may not rely on your memory, they mean with regard to facts.
For example, you may not rely on your memory to recall the annual returns on particular composites at your former employer, or, more specifically, the annual returns on the portfolios that you managed. If you cannot recreate those numbers from public records, you are not allowed to tell your clients at your new firm what your inklings are.
You are certainly allowed to use procedural knowledge that you gained at your former employer’s; e.g., you are allowed to recreate analytical methodologies.