GIPS - Portfolio valuation

[FrankCFA]

Standard 1.A.3. Portfolio valuation.
Prior to January 1, 2001, portfolios must be valued at least quarterly.
Beginning on or after January 1, 2001, at least monthly.
Beginning on or after January 1, 2010, at least monthly and on the date of all
large external cash flows.
No more frequently than required by the valuation policy.

Does it mean the firm can choose daily or weekly valuation but if decide, the firm can’t go more frequently than it? Thanks.

 

[zulu007]

In my view, the requirements relate to minimum frequency - more the better.
For exams I am just trying to remember that Beginning on or after January 1, 2010, at least monthly and on the date of all large external cash flows.