Responsibilities to Employers: Seeking Approval for Side Projects

Hard Professional Standards Application Responsibilities To Employers

Elsa is a senior financial advisor at New Horizons Investments, where she has worked for over five years. Recently, she was approached by a friend who runs a startup looking for financial advice on launching a new product. The friend offers Elsa a commission for her advisory services outside of her regular job. Elsa believes this side work would not interfere with her duties at New Horizons. However, she is aware of the company policy regarding outside business activities.

Consider the professional standards and responsibilities that Elsa must adhere to in her role. Which of the following actions would best align with her responsibilities to her employer?

Accept the friend's offer and inform New Horizons Investments of her side project after securing the commission.

Decline the commission but provide advice to her friend informally, ensuring it does not interfere with her job.

Seek approval from New Horizons Investments before accepting any compensation for advisory services to ensure compliance.

Hint

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