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SpyAli

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tT
发表于 2013-4-9 21:43 | 只看该作者

ethics standard II(A)

only, standard, material, company
if company A’s Gerneral manager tell his wife(Lucy) about A is going to buy over company B, which would double earning of company A. Lucy told her stockbroker, Nancy (CFA charterholder) , who immediately buy company A’s stock for herself.
Did lucy and Nancy violate standard II(A)material nonpublic informantion?
the answer gives both lucy and nancy violate.
but i think only nancy violate bz she is the member or candidate of CFA, who needs to abide by cfa standard as it defined on study notes page 13, book1.
thanks
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Londonrocks

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2#
发表于 2013-4-9 21:44 | 只看该作者
This is a bit of a grey area for me  the wholes question of nonmembers or candidates of CFAI being in violation of the standards.
In this example i awould also have said that only Nancy did as Lucy is not covered by the Standards. dunno really…

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mp3bu

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3#
发表于 2013-4-9 21:46 | 只看该作者
it seems weird to me  you might not even know the Standards exist, not even work in the Finance industry, yet can still violate the Standards
weird man

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thommo77

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4#
发表于 2013-4-9 21:47 | 只看该作者
I’m assuming that Lucy told her stockbroker the inside information before she made the trade.
However, if all Lucy told Nancy was to execute the trade, does Nancy still violate the standard? My reasoning would lead me to believe that she did not violate since she was unaware. Is my thinking correct??

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Chuckrox8

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5#
发表于 2013-4-9 21:48 | 只看该作者
Rn118 agree if she didn’t know and had no reason to know. She could still be in violation of other standards. Reasonable and adequate basis maybe..

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onelife1

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6#
发表于 2013-4-9 21:50 | 只看该作者
Where did you find the question?….I am coming to the opinion that some of these questions are a little too smart for their own good and unless it is actually a sample or from a past CFA exam, I really wouldn’t waste time thinking about it too much.

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dreampak

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7#
发表于 2013-4-9 21:52 | 只看该作者
Dont they say at the start of the L1 exam that unless otherwise advised all people can be assumed to be charterholders / candidates and therefore covered by thestandards? Or did I just imagine that (which would be scary).

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