What laws,rules, and regulations should be known by members and candidates?

Members and Candidates must understand and comply with all applicable laws, rules, and regulations (including the CFA Institute Code of Ethics and Standards of Professional Conduct) of any agencies governing their professional activities.

In the event of conflict, must comply with the more strict law, rule, or regulation. （總是遵循更嚴(yán)格的法律法規(guī)）

Must not knowingly participate or assist in any violation of such laws, rules, or regulation. （不能明知故犯）

Must dissociate from any violation of such laws, rules, or regulations. （從違法違規(guī)行為中脫離出來）

Not expert on all laws that could govern his activities，not expert on compliance, however，must comply with law directly governing. （不要求成為所有法律的專家，必須遵守直接相關(guān)的法律）

Always adhere to the most strict rules and requirements ( law or CFA institute Standards) that apply. Do not violate Code or Standards even if the activity is otherwise legal under local laws. （Law VS Code）

Comply with the last applicable law if transferable applicability. （Work place law VS Live place law，法律有傳遞性）

Know=> report through supervisor or compliance department=> may consider confronting wrongdoers=> （if unsuccessful） => dissociate and document=> quit（即使生活窘迫，在情況嚴(yán)重時(shí)也必須退出）

Suspect=> Consult=> but can’t be absolved from requirements to compliance（懷疑時(shí)要咨詢，但咨詢不能免責(zé)）

There is no requirement under Standards to report violations to governmental authorities, but this may be advisable in some circumstances and required by law in others. （沒有要求一定要將違法行為報(bào)告政府）

Inaction combined with continuing association with those involved in illegal or unethical conduct may be construed as participation or assistance in the illegal or unethical conduct. （在違法行為中不作為，也會(huì)被認(rèn)為是參與違法行為）

Members and candidates involved in creating or maintaining investment services, investment products, packages of securities and derivatives should be mindful of where these products or packages will be sold as well as their places of origination. （了解產(chǎn)品的來源地與銷售地法律）

Should make reasonable efforts to review whether associated firms that are distributing products or services also abide by the laws and regulations. （確保關(guān)聯(lián)公司遵守相關(guān)法律法規(guī)）

The formality and complexity of compliance procedures for firms depend on the nature and size of the organization and the nature of its investment operations. （程序的復(fù)雜程度取決于公司性質(zhì)和規(guī)模，但必須要有）