Reading 4: CFA Institute Research Objectivity Standards　L

答案和详解如下：

6、At Brown Investment Analysis Inc., all analysts are required to submit a draft copy of all research reports before certain approved portions of the reports are shared or discussed with the company that is the subject of the report. Any changes that are made to research reports after the reports have been reviewed by subject companies must be approved by the compliance department after it receives a written statement from the responsible analyst justifying the changes. Brown also requires documentation of the process to take place at each step to ensure a review of any report would demonstrate clear justification for alterations in reports that have been partially disclosed to subject companies. Which of the following statements regarding the research policies at Brown Investment Analysis Inc. is CORRECT? The policies are:

A)   required by CFA Institute Research Objectivity Standards.

B)   recommended by CFA Institute Research Objectivity Standards.

C)   recommended by CFA Institute Standards of Professional Conduct.

D)   required by CFA Institute Standards of Professional Conduct.

The correct answer was B)    

CFA Institute Research Objectivity Standards (ROS) prohibit analysts from sharing with subject companies any sections of a report that may communicate the recommendation, rating, or price target prior to the report’s publication. It is recommended by the ROS that firms institute policies that require approval from the firm’s compliance department before an analyst shares any information with the subject company. It is also recommended that the firm document and maintain records of information that is shared with subject companies prior to the publication of a research report and any changes that occur subsequent to the information exchange.