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Answer: Asset owners who do not compete for business but report performance to oversight bodies.
**Explanation:** - **Option A** is incorrect because consultants cannot claim compliance unless they directly manage the assets for which compliance is claimed. They may endorse or require GIPS compliance for their investment managers but cannot claim it themselves. - **Option B** is correct. Asset owners may comply with the GIPS standards if they do not compete for business but report performance to oversight bodies. They can adhere to the GIPS Standards for Asset Owners. - **Option C** is incorrect because only firms managing assets can claim compliance. Software vendors can assist firms in achieving compliance but cannot claim compliance themselves. Compliance is only valid for firms that meet all GIPS requirements.
Author: LeetQuiz Editorial Team
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Which of the following entities is eligible to claim compliance with the GIPS standards?
A
Consultants providing advisory services to investment firms managing discretionary client assets.
B
Asset owners who do not compete for business but report performance to oversight bodies.
C
Vendors supplying software to investment firms for GIPS compliance purposes.