Over a 2 year time span, Mr. B and Mr. G - both CFP professionals - failed to report relevant information to the Head Office of their investment firm. The Mutual Fund Dealers Association of Canada (MFDA) Hearing Panel imposed penalties and fines of $10,000 on each of Mr. B and Mr. G. On at least five occasions during this time span they received information that an investment advisor working at the branch overseen by them had borrowed monies from clients that had not been repaid. The advisor (not an FPC Certificant) pleaded guilty to one charge of fraud over $5,000 involving 22 victims who lost a combined $1,054,986 over a six-year period. Mr. G had an ownership interest in the branch office and was the Primary Branch Manager and a minority shareholder during the relevant time. Mr. B had an ownership interest in the branch office and was a co-Branch Manager or Alternate Branch Manager, the Managing Director of the branch and a majority shareholder during the relevant time. Neither Mr. B nor Mr. G reported the investigation, proceedings or decision by the MFDA to FPC, as required. Please search for cases like the above one and the legal charges against those crimes

What type of penalties can be imposed against a financial advisor/financial planner for his or her failure to comply with the complaint handling process of their firm?a written warningcriminal chargessuspension of the registration of the advisor/plannermonetary finesa permanent ban of the registration of the advisor/planner

United Bank is concerned about the increasing media coverage of suspicions of corruption among its top management staff. The VP of finance was accused of embezzling ten million dollars, for which the maximum penalty is eight years in prison. The bank's attorneys advised management to offer him a plea bargain according to which he will admit to the crime, return the money plus compensation, and serve one year of community service. The VP of finance is reluctant to accept, pleading his innocence.If the VP of finance is found guilty of the charge and the judge gives him the maximum sentence, the VP of finance can be sentenced to a jail term of eight years.A. TrueB. Probably TrueC. Insufficient DataD. Probably FalseE. False

Have a look at the consequences of this case:A retired nurse applied for a pension from Centrelink, and was informed that she would receive a small pension of $8 per fortnight, and a Pension Card. She then received a letter saying that her pension would not be paid because she had assets of over $18 million, and an annualincome of over $770,000. It took this lady several attempts to get Centrelink to examine hercase. Finally, the cause of the mistake was found to be a “human error” when the lady’sinvestment details were coded into the computer. When the cause of the mistake wasdiscovered, she was informed that they “couldn’t remove it from the computer”. Centrelinkclaimed that this was an ""isolated incident"". However, at the same time, another man wasdiscussing with Centrelink their claim that he had an income of $6 million, which was not the case.Which values do you think could have contributed to preventing this from happening? Select all that apply. (This question has more than one correct answer)Group of answer choices1.2.2 Quality of Life c) understand, and give due regard to, the perceptions of those affected by your work.1.2.1 Public Interest a) identify those potentially impacted by your work and explicitly consider their interests.1.2.3 Honesty b) not knowingly mislead a client or potential client as to the suitability of a product or service.1.2.5 Professional Development c) encourage your colleagues, employees and students to continue their own professional development.

Question 1A press release titled “Luckin Coffee Agrees to Pay $180 Million Penalty to Settle AccountingFraud Charges” by the U.S. Securities and Exchange Commission in the SEC website on 16December 2020, reported that China-based company Luckin Coffee Inc. defrauded investorsby materially misstating the company’s revenue, expenses, and net operating loss in an effortto falsely appear to achieve rapid growth and increased profitability and to meet the company’searnings estimates.Below is an excerpt from the press release (2020-319):“The SEC’s complaint alleges that, from at least April 2019 through January 2020, Luckinintentionally fabricated more than $300 million in retail sales by using related parties to createfalse sales transactions through three separate purchasing schemes. According to the complaint,certain Luckin employees attempted to conceal the fraud by inflating the company’s expensesby more than $190 million, creating a fake operations database, and altering accounting andbank records to reflect the false sales.The complaint further alleges that the company intentionally and materially overstated itsreported revenue and expenses and materially understated its net loss in its publicly disclosedfinancial statements in 2019. For example, Luckin allegedly materially overstated its reportedrevenue by approximately 28% for the period ending June 30, 2019, and by 45% for the periodending Sept. 30, 2019, in its publicly disclosed financial statements. The complaint alleges thatduring the period of the fraud, Luckin raised more than $864 million from debt and equityinvestors. After Luckin’s misconduct was discovered in the course of the annual external auditof the company’s financial statements, Luckin reported the matter to and cooperated with SECstaff, initiated an internal investigation, terminated certain personnel, and added internalaccounting controls.“Public issuers who access our markets, regardless of where they are located, must not providefalse or misleading information to investors,” said Stephanie Avakian, Director of the SEC’sDivision of Enforcement. “While there are challenges in our ability to effectively hold foreignissuers and their officers and directors accountable to the same extent as U.S. issuers andpersons, we will continue to use all our available resources to protect investors when foreignissuers violate the federal securities laws.”Source: https://www.sec.gov/news/press-release/2020-319Required:(a) Discuss what is earnings management and the motivations for it in the case of LuckinCoffee Inc

Sam Yuan， CFA， is a famous asset manager and his historical return is much higher than the average. Recently， the chairman of Green Peace Organization approached Yuan and asked him to manage the pension fund that their employees could voluntarily join. The chairman told Yuan that he could not invest in the chemical industry and the weapons manufacturing industry according to the constraint terms of the pension fund. Yuan objected that in his investment strategy， the weapons manufacturing industry is very important， and the return rate of this industry is very high. Finally， Yuan took over the management of the pension fund following all the terms of the pension fund. Did Yuan violate CFA Institute Code and Standard？