QUESTION1: Diana Bol, CFA, is responsible for a team of research analysts at P&P

Question

QUESTION1: Diana Bol, CFA, is responsible for a team of research analysts at P&P; Bank, located in a country with strict laws prohibiting intellectual property transfers. Bol believes the work of one of her analysts, Patrick Bateman, CFA, is not completed as careful and thoroughly as it should be. Bol completely reviews all of Bateman's research and confirms her suspicions. Bol then confronts Bateman about his poor-quality research and tells him he can leave P&P; voluntarily or be fired. Bateman chooses to leave the bank, walking out with his personal papers and research notes that were created prior to his joining P&P.; Subsequently, Bateman uses this intellectual property to help establish a high-net-worth investment advisory firm. When a prospective client asks Bateman if he left P&P; because of questions on the quality of his work, Bateman says it was to start his own business. Bateman LEAST LIKELY violated the CFA Institute Standards of Professional Conduct concerning his handling of: a) Research. b) Intellectual Property c) Prospective Client Disclosure. Explain which Standards are applicable to the above issues AND how Bateman has (or has not) appeared to have violated them

Explanation / Answer

Batman does not seem to violate any provisions of professional conduct standards of CFA, because the research work or intellectual property he used to establish his work, was not related to his past organisation.

The CFA standards that apply to the issues listed above are

1. Professionalism

3. Duties to the clients.

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