Standard 4.A.14 says that firms must disclose all significant events that would help a prospective client interpret the compliant presentation thus legal disclosure should include information about action taken against the firm not just the investment advisor. Firms are required to present either gross or net of fees as long as it is properly labeled so this is not a violation of the GIPS. It is a recommendatin that returns should be presented gross of fees. The other three statements satisfy the Code | 
