Susan Roberts, CFA, a portfolio manager for Howard Investment Counsel, has just received a call from Michael Moore, an institutional broker. Moore is calling to recommend buying Megamove, an obscure stock on the Nasdaq Stock Market, as a takeover candidate. In the past, Moore has demonstrated an ability to pick takeover candidates. If Roberts buys the stock, is she violating AIMR Standards of Professional Conduct involving trading on material nonpublic information? A. Yes, because Roberts is receiving confidential information. B. No, because Roberts is basing the purchase on the “mosaic theory.” C. Yes, because Moore and his sources are breaching fiduciary duty and are receiving personal benefits as a result. D. No, because Roberts neither knows nor has any reason to know of a breach in the laws about using material nonpublic information.作者: 胡老师 时间: 2008-1-2 09:13
