4、Darden Crux, CFA, a portfolio manager at SWIFT Funds, calls a friend to join him for dinner. The friend, a financial analyst at Cyber Kinetics (CK) declines the invitation and explains that she is performing due diligence on Orca Electronics, a company that CK is about to acquire. After the phone call, Crux searches the Internet for any news of the acquisition but finds nothing. Upon verifying that Orca is on SWIFT's approved stock list, Crux purchases Orca's common stock and call options for the SWIFT fund. Two weeks later, CK announces its intention to acquire Orca. The next day, Crux sells all of the Orca securities, giving the fund a profit of $3 million. According to the Standards of Practice Handbook, did Crux violate any CFA Institute Standards of Professional Conduct? A. No. B. Yes, because he traded on material non-public information. C. Yes, because he allowed his friend to pass on insider information. D. Yes, because he should have waited three days instead of two before selling Orca.
[此贴子已经被作者于2008-11-7 13:57:20编辑过] | 
发表于 2008-5-27 11:21
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