3.) Which of Akinyi's policies in Recommendation 2 would least likely comply with the Asset
Manager Code of Professional Conduct and its general principles if implemented?
A. Policy 1
B. Policy 2
C. Policy 3
Answer = A
"Asset Manager Code of Professional Conduct," Kurt Schacht, Jonathan J. Stokes, and
Glenn Doggett
General Principles of Conduct; Section F: Disclosures
The board of directors have corporate finance experience and business experience but
not asset management experience. Consequently, they may not act with skill or
competence, as required by the fourth principle of the General Principles of Conduct.
Therefore, they should hire professional asset managers to manage the Fund.
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