Nano decides to draft a model compliance document to guide discussions about future compliance issues at the firm. Nano’s initial draft includes the following components of a compliance policy statement:
- Performance Presentation
- Performance data must be documented for each of Markoe Advisors’ active accounts, be disclosed upon request, and be compared with the firm’s composite, which is composed of active accounts only. Performance data must be presented on a before-tax basis to all clients, with the disclosure that all performance data are presented gross of fees.
- Does Nano’s draft compliance policy statement conform to the CFA Institute Code and Standards with respect to performance presentation?
A.No, because terminated accounts are excluded
B.No, because performance is reported to all clients gross of fees
C.No, because performance data are presented on a before-tax basis
请问老师，gross of fee和net of fee披露一个就可以吗？
