) WITH RESPECT TO THE FEES HE RECEIVES AS A FOOTBALL REFEREE, HAS PEÑA VIOLATED ANY CFA INSTITUTE STANDARDS OF PROFESSIONAL CONDUCT

2.) With respect to the fees he receives as a football referee, has Peña violated any CFA

Institute Standards of Professional Conduct?

A.

No

B.

Yes, he failed to receive written consent from his employer

C.

Yes, he failed to receive written consent from all parties involved

Answer = A

Standard IV(B)—Additional Compensation Arrangements only requires "written

consent" from both parties in situations in which consideration might reasonably be

expected to create a conflict of interest with the employer's interest. The fees in

question are small and unrelated to Peña's professional activities. The employer

confirmed in the interview process that the fees created no conflict of interest with or

for the employer.

“Guidance for Standards I–VII,” CFA Institute

Standard IV(B)