Please create a new topic for ethic strategy.
Here, I’m asking magician whether Soft Dollars https://www.cfainstitute.org/ethics/codes/softdollar/Pages/index.aspx is in the program or not.
When local laws and regulations differ from the GIPS, firms must comply with local laws (not the stricter) and disclose the manner in which the local laws and regulations conflict with GIPS. This enables firms to compete on an equal footing in markets with a lower level of regulations. It is also practical because failure to follow local law would likely lead to legal consequences. Note the Standards of Professional Conduct (SPC) have a general provision to comply with the stricter of local law or SPC. Complying with local laws is not considered to be an exception to SPC, just a clarification as it applies to GIPS.
Add this paragraph here for companions for my personal learning purpose and others’ interest.