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灰飞翔的猫 · 2025年02月11日

A

NO.PZ2023021602000078

问题如下:

Adira Badawi, CFA, who owns a research and consulting company, is an independent board member of a leading cement manufacturer in a small local market. Because of Badawi's expertise in the cement industry, a foreign cement manufacturer looking to enter the local market has hired him to undertake a feasibility study. Under what circumstances can Badawi most likely undertake the assignment without violating the CFA Institute Code of Ethics and Standards of Professional Conduct?

选项:

A.He makes full disclosure to both companies.

B.He signs confidentiality agreements with both companies.

C.He receives written permission from the local company.

解释:

Making full and fair disclosure of all matters that could reasonably be expected to impair one's independence and objectivity or interfere with respective duties to one's clients is required by Standard VI(A)–Avoid or disclose conflicts.

我想问下A仅仅披露就可以了么?他为外国公司写研究报告不还有额外报酬么?不需要得到同意么?

1 个答案

小刘_品职助教 · 2025年02月11日

嗨,从没放弃的小努力你好:


我想问下A仅仅披露就可以了么?

是的,仅仅披露就可以。Badawi担任的是当地水泥制造商的独立董事,同时又接受外国水泥制造商的聘请开展可行性研究,是存在潜在的利益冲突,但仅进行披露,是符合准则中Avoid or disclose conflicts要求的,通过向两家公司披露这个情况,两家公司就都能够知道Badawi所涉及的利益冲突情况,并基于这些情况做出判断和决策,比如,当地公司可以评估Badawi是否还能公正地履行独立董事职责,外国公司也能考虑这种情况是否会影响研究的客观性。

他为外国公司写研究报告不还有额外报酬么?不需要得到同意么?

虽然他接受外国公司聘请开展研究可能会有额外报酬,但准则强调的核心是Conflicts of Interests的披露,披露本身就包含了告知双方存在可能的额外报酬的情况。在披露之后,如果公司认为这种情况不可接受,它们可以提出反对等意见,但从准则要求角度,做到充分披露就满足了Avoid or disclose conflicts这一准则的初步要求。

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