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For years, John Berger, a CFA charterholder and CEO of a company, relied upon a set of reasonable procedures for preventing violations of the Standards of Practice in the firm. The company has recently arranged to have members of CFA Institute as mid-level supervisors throughout the firm. With this arrangement Berger has delegated the supervision of employees with respect to the Code and Standards to the mid-level managers. With this action Berger: A. is still responsible for seeing that procedures are in place to prevent violations of the Code and Standards. B. is relieved of his obligation to supervise the employees under the mid-level supervisors. C. has violated Standard IV(C), Responsibilities of Supervisors. |