Ethics clarification?

[BMiller12]

The book gives numerous examples where an individual violates a particular standard. However, it doesn’t specifically state in all the examples that the individual is a CFA member or candidate. Are we to assume they are still subject to the Code and Standards even though it doesn’t specify that they are a member or candidate? I ask bc in one example it states that IF the individuals were covered by the Standards, then they would’ve violated the standards…suggesting that they wouldn’t have violated standards if they weren’t a member or candidate.
Thanks.

 

[S2000magician]

The Code and Standards applies only to covered persons: candidates, charterholders, and members of CFA Institute; thus, only covered persons can violate the Code and Standards.
I suppose that they could give you a vignette in which Bob took bribes or cheated his clients or employer or misrepresented the CFA exam or something else, then ask if Bob violated the C&S, with the correct answer being “No” because they never said that he was a covered person, but I would surprised if they did that.
Whenever I teach Ethics (which I’ll be doing once again in about 3 weeks), I always emphasize that only covered persons can violate the C&S. That said, it would surprise me (somewhat) if they used that as the basis for a a question.

 

[BMiller12]

Gotcha. So even if it doesn’t specify or mention it as part of the answer, you think it’s safe to assume that we apply the C&S to the subject person? There were still plenty examples were they didn’t specify but the answer still stated that a violation occurred. I figured they just didn’t feel the need to specify in each example that we were dealing with somebody that is subject to the C&S…just wanting to make sure though.