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One of the authors has recently propounded an SR (semantic realism) modelwhich shows, circumventing known no-go theorems, that an objective(noncontextual, hence local) interpretation of quantum mechanics (QM) ispossible. We consider here compound physical systems and show why the proofs ofnonlocality of QM do not hold within the SR model. We also discuss quantummeasurement theory within this model, note that the objectification problemdisappears since the measurement of any property simply reveals its unknownvalue, and show that the projection postulate can be considered as anapproximate law, valid FAPP (for all practical purposes). Finally, we providean intuitive justification for some unusual features of the SR model.Comment: 29 pages, minor correction

Locality and Measurements Within the SR Model for an Objective Interpretation of Quantum Mechanics