An assistant deletes emails about a major investment recommendation to avoid audits. Which Standard is violated?

• A. Standard IV.D (GIPS)
• B. Standard VI.A Disclosure of Conflicts
• C. Standard I.C Misrepresentation
• D. Standard V.C Record Retention

Answer: (D)

Maintaining and preserving records of investment decisions is essential for accountability and regulatory scrutiny. Deleting emails about a major investment recommendation directly undermines these record-keeping obligations, since such communications are part of the documentation that must be retained for a defined period to support audits and internal review. Destroying them can hide the decision process and potential issues, which violates the Standard on Record Retention. The other standards focus on how information is disclosed, presented, or whether it is truthful; they do not specifically require keeping and safeguarding emails and related records, so this behavior best fits the record retention requirement.