In-class Group Exercise 1 2024W

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Sheridan College *

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79901

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Management

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Feb 20, 2024

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docx

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Uploaded by ChiefKnowledgeStarling30

Professional Conduct and Practices – 2024W In-class Group Exercise 1 Due: 4:15 pm Wednesday Jan 24, 2024 - Today Submission : Through SLATE. Each student shall submit a replica copy of the document created by their group. 1) Use the Break-out rooms in Bongo 2) Assign a scribe who will type the answers for each question; 3) Quickly decide who will answer each question; 4) Figure out how to efficiently share the information with the scribe; 5) Have the scribe email the answers agreed upon by the group to each group member; 6) Each group member will submit a replica copy of the document through SLATE. Each member of the group will receive precisely the same grade. Answer the following questions regarding the Standards of Conduct. Text page 1.9 1. Name the five Standards of Conduct. Work together as a group to briefly describe all the aspects of the five Standards. Use your own words. Do not copy and paste text from the book. Group members shall agree upon a sentence or two for the name and description of each Standard (A through E); and then a sentence or two for each of the parts indicated by a hyphen “-“ below. (Reference: Chapter 1; Page 1.8 – 1.24) (10 marks) Standard A: - - - Standard B: - - - -

Standard C: - - - Standard D: - Standard E: - - 2) Explain the term ‘suitability’ and why it ensures investment clients are being properly treated. (Reference: Chapter 1; Pages 1.4 – 1.5) (2 marks) The word 'suitability' refers to the practice of assessing whether a particular investment product or strategy is appropriate for a specific client based on their financial goals, their current situation, risk tolerance, investment horizon, and their creditworthiness. It ensures that investment clients are being properly treated by ensuring that the investments recommended or chosen for them align with their unique financial needs and objectives. 3) An IA is expected to know, understand and discuss any security they recommend to a client. Which of the standards of conduct does this relate to? (2 marks) Standard A The expectation that an Investment Advisor must know, understand, and discuss any security they recommend to a client relates to the "Duty of Care" standard of conduct. The Duty of Care is one of the key principles in the standards of conduct for financial professionals, which requires them to act diligently and in the best interests of their clients. Under this standard, an IA is obligated to thoroughly research and understand any investment or security they recommend to a client. They must be able to discuss the investment's features, risks, benefits, and how it aligns with the client's financial goals and risk tolerance. This ensures that the IA is providing informed and suitable investment recommendations, enhancing the client's understanding of their investments, and ultimately acting in the client's best interests.

4) Scenario: A client comes to their IA and mentions a stock they read about online. An IA is expected to provide cautionary advice to the client. Which of the standards of conduct does this relate to? (2 marks) Standard A: Unsolicited orders 5) An Investment Advisor is expected to understand and discuss a client’s portfolio with them. If they fail to discuss the portfolio, the IA will be in violation of what standard of conduct? (2 marks) Duty of care Rule 3200 iii a 6) An Investment Advisor routinely asks his unregistered assistant to accept orders from clients and then process the orders in the client order system. In what respect is the Investment Advisor violating the standards of conduct? (2 marks)

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