Q & A Database

The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.

Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.

The GIPS Standards Helpdesk is available for individual questions and typically responds to inquiries within 3 business days.

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Effective

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1 Result

Archived

Effective: 1 February, 2013 - 31 December, 2019

Categories: Fundamentals of Compliance

Source: GIPS Executive Committee

The GIPS standards state that as long as a prospective client has received a compliant presentation within the previous 12 months, the firm has met the GIPS requirement to provide a compliant presentation to all prospective clients. Does this mean that we have 12 months after an initial meeting with a prospective client to provide them with a compliant presentation?

No. A compliant presentation must be provided to all prospective clients when they are initially identified as prospective clients. If after 12 months, the prospective client is still considered a prospective client, then the firm must provide them with a current compliant presentation. It is important to note that databases and consultants are also considered prospective clients under the GIPS standards. If a firm provides performance information to an investment consultant and other third parties (e.g. consultant databases) or a database, these entities qualify as prospective clients and they must initially receive a compliant presentation and must receive an updated compliant presentation at least once every 12 months.