急！关于GIPS中的firm定义

GIPS定义firm为独立的业务实体（Distinct business entity），我理解你掌握以下内容即可。

Distinct business entity：unit, division, department, or office that is organizationally and functionally segregated from other units, divisions, departments, or offices and that retains discretion over the assets it manages and that should have autonomy over the investment decision- making process. Possible criteria that can be used to determine this include:

1. being a legal entity,是一个独立的法律实体
2. having a distinct market or client type (e.g., institutional, retail, private client, etc.), and有独立的市场和客户的受众
3. using a separate and distinct investment process.s采用独立的投资决策过程

2、tradng只是一项业务

3、不可以

4、可以，这里定义公司只是为了定义能单独做业绩披露的最小的个体。

加油。