Bill Fence, CFA, supervises a group of research analysts, none of whom have
earned the CFA designation or are CFA candidates. On several occasions he has
attempted to get his firm to adopt a compliance system to ensure that applicable
laws and regulations are followed. However, the firm's principals have never
adopted his recommendations. Fence should most appropriately:
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A)
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decline in writing to accept supervisory responsibility until reasonable compliance procedures are adopted.
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B)
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resign from the firm, because no other alternative will keep him in compliance with the Code and Standards.
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C)
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take no further action, because by encouraging his firm to adopt a compliance system he has fulfilled his obligations under the Code and Standards.
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