Explanation:
The GARP Code of Conduct, as well as the local and national laws, all have their own unique requirements. However, when these standards appear to be in conflict or overlap, the GARP member should always seek to apply the highest standard. This means that the member should adhere to the most stringent requirement among the GARP Code of Conduct, the local law, and the country's law. This approach ensures that the member is always operating within the bounds of the law and the professional code of conduct, thereby minimizing the risk of legal and professional repercussions. It also demonstrates the member's commitment to maintaining high standards.
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Q.274 A GARP member working in a certain country establishes that the GARP Code of Conduct, the country's laws, and the local law applicable within the region where she conducts business all specify different requirements. The member must abide by:
A
The GARP Code of Conduct.
B
The highest standard of local law, her country's laws, or the GARP Code of Conduct.
C
The GARP Code of Conduct or the local law, whichever is higher.
D
The country's law.
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