Fundamentals of compliance
Firms must take all steps necessary to ensure that they have satisfied all the requirements of the GIPS standards before claiming compliance. Firms are strongly encouraged to perform periodic internal compliance checks. Implementing adequate internal controls during all stages of the investment performance process — from data input to preparing performance presentations — will instill confidence in the validity of performance presented as well as in the claim of compliance.
在宣称合规之前，公司必须进行所有必要的步骤以满足GIPS标准的所有要求。公司应当进行定期的内部合规检查。对于投资业绩流程的所有阶段——从数据输入、到准备业绩陈述，都必须进行足够的内控，这样才能够给予业绩的准确性和合规宣称以信心。
Firms may choose to have an independent third‐party verification that tests the construction of the firm’s composites as well as the firm’s policies and procedures as they relate to compliance with the GIPS standards. The value of verification is widely recognized, and being verified is considered to be best practice. The GIPS Executive Committee strongly recommends that firms be verified.
公司可以选择进行独立第三方验证，验证的内容是对于公司集合的建立和公司关于合规相关的政策和流程进行测试。
注意：GIPS执行委员会强烈建议公司进行验证，但不是要求。
In addition to verification, firms may also choose to have specifically focused composite testing (performance examination) performed by an independent third party verifier to provide additional assurance regarding a particular composite.
除进行验证以外，公司还可以选择由独立第三方进行特别的集合测试，以对于一个特别的集合业绩进行进一步的保证。
Scope of the GIPS standards
¾FIRMS from any country
¾HISTORICAL PERFORMANCE RECORD
y A firm is required to initially present, at a minimum, five years of annual investment performance that is compliant with the GIPS standards. If the firm or the composite has been in existence less than five years, the firm must present performance since the firm’s inception or the composite inception date.
最少要5年合规的年度投资业绩。如果公司自公司成立少于5年，则从
公司或者集合成立之日开始陈述；
y After a firm presents a minimum of five years of GIPS‐compliant performance (or for the period since the firm’s inception or the composite inception date if the firm or the composite has been in existence less than five
years), the firm must present an additional year of performance each year, building up to a minimum of 10 years of GIPS‐compliant performance.
在此之后，公司必须每年增加1个年度业绩，直至建立最低10年GIPS
合规业绩；
y Firms may link non‐GIPS‐compliant performance to their GIPS‐compliant performance provided that only GIPS‐compliant performance is presented for periods after 1 January 2000 and the firm discloses the periods of non‐compliance. Firms must not link non‐ GIPS‐compliant performance for periods beginning on or after 1 January 2000 to their GIPS‐compliant performance. Firms that manage private equity, real estate, and/or wrap fee/separately managed account (SMA) portfolios must also comply with Sections 6, 7, and 8, respectively, of Chapter I that became effective as of 1 January 2006.
只有公司2000年1月1日以后的业绩都是GIPS合规的，并且公司将非
合规业绩的时间段披露时，公司可以将非合规业绩与合规业绩连结在一
起。公司管理private equity, real estate, and/or wrap fee/separately
managed account (SMA) portfolios这些特殊账户的，必须遵守GIPS第一
章6/7/8部分（自2006年1月1日起生效）
GIPS and local regulations
y The GIPS Executive Committee strongly encourages countries without an investment performance standard to promote the GIPS standards as the local standard and translate them into the local language when necessary. Although the GIPS standards may be translated into many languages, if a discrepancy arises, the English version of the GIPS standards is the official governing version.
如果某国没有投资业绩这方面的准则，则GIPS执行委员会强烈推荐将GIPS 作为当地的标准，如果需要的话，可将标准翻译成当地语言。但如果有歧义发生时，英文版本为官方版本。
y Where existing laws, regulations, or industry standards already impose requirements related to the calculation and presentation of investment performance, firms are strongly encouraged to comply with the GIPS standards in addition to applicable regulatory requirements.
如果某国有投资业绩计算和陈述方面的法律、法规和行业标准，则强烈推荐除遵守当地使用法规要求以外，还遵守GIPS标准。
y Compliance with applicable law and/or regulation does not necessarily lead to compliance with the GIPS standards.
遵守当地的适用法律或法规，不必然意味着即遵守了GIPS标准；
y In cases in which laws and/or regulations conflict with the GIPS standards, firms are required to comply with the laws and regulations and make full disclosure of the conflict in the compliant presentation.
y当当地法律法规与GIPS标准冲突时，公司应当遵守当地法律法规，并将该
