Whenever an investment management firm presents investment performance is compliance with the Global Investment Performance Standards (GIPS), it must start how it defines itself as a firm. Under GIPS, a firm may define itself for the purpose of claiming GIPS compliance using any of the following options EXCEPT when:()
A. an entity is registered with the appropriate national regulatory authority overseeing the entity’s investment management activities.
B. all assets are managed to one or more base currencies.
C. the subsidiary or division of a company claims GIPS compliance when the parent company is GIPS compliant.
