Recall that the GIPS 2010 "exposure draft" proposed a requirement that firms be prohibited from giving a GIPS (R) composite presentation to prospects below their stated minimum. While this was characterized as a change from a "recommendation," this appeared to be much more given the language as it currently appears in the standards (see paragraph 3.B.3). Putting this semantic disagreement aside, the GIPS Executive Committee responded favorably to the overwhelming opposition to this proposed change (my count had more than half saying "no," with but a few saying "yes").
During last week's annual GIPS conference we were told that this will stay a "recommendation." Given the wording in the draft, it isn't clear to me if this means that the EXISTING wording will stay (that is, recommending that compliant firms "not market" to prospects below) or if it'll change to the previously proposed change, but with "must not" replaced with a recommendation (that is, to not SHOW a presentation to a prospect below the minimum). I'm fine either way, and suspect many, if not most, of those who opposed the original change will be fine with this, too.