Disclosure
Full and fair disclosure of any matter that could reasonably be expected to impair independence, objectivity, or duties to clients.
Two distinct standards address disclosure of conflicts. Standard VI(A) requires disclosure to employers, clients, and prospective clients of any matter that could reasonably impair independence or interfere with duties. Standard VI(C) requires disclosure of referral fees. A common violation is failing to disclose ownership of securities being recommended, or compensation arrangements that vary with recommendations.
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