Which CFA Institute Standard includes a sub-section titled 'Communication with Clients and Prospective Clients'?

• A. Investment Analysis, Recommendations, and Actions
• B. Conflicts of Interest
• C. Duties to Clients
• D. Ethics and Professionalism

Answer: (A)

The main idea here is where CFA Institute places guidance on how analysts should communicate with clients and prospective clients. That specific sub-section, “Communication with Clients and Prospective Clients,” lives under the standard that covers Investment Analysis, Recommendations, and Actions. This standard focuses on the presentation and justification of investment ideas, ensuring communications are fair, balanced, and not misleading, and that the rationale and potential risks behind recommendations are clearly conveyed.

It wouldn’t belong to Duties to Clients because that standard deals with the general duties and obligations toward clients, such as loyalty and confidentiality, rather than the specifics of how to present and discuss recommendations. It isn’t the Conflicts of Interest standard, which centers on identifying and mitigating conflicts. It isn’t Ethics and Professionalism, which is broader in scope and not the specific home for that communication subsection.

So the correct source is Investment Analysis, Recommendations, and Actions.