最近有許多同學來信問我有關FRM或CFA問題，為方便答覆同學的問題，我特別開闢一個「你問我答」專欄。只要你在閱讀過程碰到任何問題，歡迎在我的部落格http://www.wretch.cc/blog/vactorlee留下問題，我會儘速答覆。

有位同學來信問我有關CFA Level 1職業道德問題，在此我公開分享這問題。

以下是這位同學的問題：

您好：

我是今年12月要考試的同學，常常在CFA板上看到老爹的文章，都讓後輩有很多收穫。現在開始唸到職業道德，發現到其英文的難度超乎自己的想像，想請問老爹一個職業道德的範例，在study notes 第一本p.46. Example 3，我把題目打出來好了 希望您能夠花一點點時間 讓小弟了解一下這個範例想考的觀念是什麼~

Example 3：

Several employees are planning to depart their current employer within a few weeks and have been careful to not engage in any activities that would conflict with their duty to their current employer. They have just learned that one of their employer's clients has undertaken a request for proposal ( RFP ) to review and possibly hire a new investment consultant. The RFP has been sent to the employer and all of its competitors. The group believes that the new entity to be formed would be qualified to respond to the RFP and eligible for the business. The RFP submission period is likely to conclude before the employees ' resignations are effective. is it permissible for the group of departing employees to respond to the RFP under their anticipated new firm ?

Comment：

A group of employees responding to an RFP that their emp1oyer is also responding to would lead to direct competition between the employees and the employer. Such conduct would violate Standard IV ( A ) unless the group of employees received permission from their employer as well as the entity sending out the RFP.

答覆：

謝謝你的來信，這部分主要在說明員工要對雇主忠誠。

職業行為準則有七個準則：一、專業；二，資本市場的誠信；三、對客戶的責任；四、對雇主的責任；五、投資分析、建議及投資；六、利益衝突；七、CFA協會會員及CFA考生的責任。

你這問題是第四個準則－對雇主的責任。對雇主的責任，有三個規範：一、忠誠；二、額外報酬的安排；三、監督責任。

這個案例的內文是這樣：

「許多員工打算在數週內離開現有雇主，並且都很小心不要從事會與現有雇主責任衝突的行為。雇主的一位客戶正要求提案（request for proposal, RFP），以便審核，並打算聘請一位新投資顧問。該提案除送給原雇主外，也送給所有競爭者。這些打算離職的員工認為他們將成立的新事業也符合提案的資格，並且是合格的業務。提案呈報的期限剛好在這些員工辭職生效之前，這些離職員工可否以預期新加入公司的名義參與此提案。」

評論：

這些離職員工及原雇主兩者的提案，會導致雇主與員工的直接競爭，除非這些員工取得原雇主同意，而且是以新公司的名義提案，否則違反IV（A）準則。