Standard 3 of the CFA Institute’s Code of Ethics and Standards of Professional Conduct states that CFA members and candidates must act with independence and objectivity and must not let their work be influenced by the interests of their clients. In the situation described, Donna Hensley is acting as an expert witness for a law firm, and it is unclear who her client is – whether it is the law firm or her employer.
However, regardless of who her client is, Hensley must adhere to the standard of independence and objectivity. This means that she must provide impartial advice and testimony, without letting the interests of the law firm or any other party influence her work. She must also ensure that she does not violate the required duty of loyalty, prudence, and care to her client, whatever that client may be.
In practical terms, this means that Hensley must approach her work as an expert witness in a professional and objective manner, and must not allow any outside influences to affect her judgment or testimony. She must also be transparent about any potential conflicts of interest or other factors that could influence her work, and must take steps to mitigate any such risks.
In summary, Hensley must act with independence and objectivity in her work as an expert witness, regardless of who her client is, and must ensure that her testimony is impartial and not influenced by the interests of any party involved in the legal proceedings.
Standard 3 of the CFA Institute’s Code of Ethics and Standards of Professional Conduct states that CFA members and candidates must act with independence and objectivity and must not let their work be influenced by the interests of their clients. In the situation described, Donna Hensley is acting as an expert witness for a law firm, and it is unclear who her client is – whether it is the law firm or her employer.
However, regardless of who her client is, Hensley must adhere to the standard of independence and objectivity. This means that she must provide impartial advice and testimony, without letting the interests of the law firm or any other party influence her work. She must also ensure that she does not violate the required duty of loyalty, prudence, and care to her client, whatever that client may be.
In practical terms, this means that Hensley must approach her work as an expert witness in a professional and objective manner, and must not allow any outside influences to affect her judgment or testimony. She must also be transparent about any potential conflicts of interest or other factors that could influence her work, and must take steps to mitigate any such risks.
In summary, Hensley must act with independence and objectivity in her work as an expert witness, regardless of who her client is, and must ensure that her testimony is impartial and not influenced by the interests of any party involved in the legal proceedings.