All prospects must receive the applicable compliant presentation(s) at least once every 12 months.  Standard O.A.11 states the following “0.A.11 FIRMS MUST make every reasonable effort to provide a compliant presentation to all prospective clients. That is, FIRMS cannot choose to whom they want to present compliant performance. (As long as a prospective client has received a compliant presentation within the previous 12 months, the FIRM has met this REQUIREMENT.)”

The second sentence indicates all 300 would need to see the compliant presentation annually.  A firm would be required to do this as a GIPS compliant firm even if GIPS is not mentioned in the commentaries.  This Standard most likely will be more palatable with the proposed change in “GIPS 2010” that defines a prospect as a party that has expressed interest.