8．Susan Roberts, CFA, a portfolio manager for Howard Investment Counsel, received a call from Marvin Moore, an institutional broker. Moore called to recommend buying Megamove, an obscure common stock traded over-the-counter, as a takeover candidate. In the past, Moore has demonstrated an ability to pick takeover candidates. If she buys the Megamove stock, is Roberts violating the CFA Institute Standard of Professional Conduct that relates to trading on material nonpublic information?
Select exactly 1 answers from the following:
A. No.
B. Yes, because Roberts did not research the stock herself.
C. Yes, because Roberts is acting on confidential information.
D. Yes, because Moore is breaching fiduciary duty and receiving personal benefits as a result.
答案和详解如下！
Feedback: Correct answer: A
Standards of Practice Handbook, 9th edition (CFA Institute, 2005), pp. 37-40 2006 Level I Program Readings, 揋uidance?for Standards I-VII, Standards of Practice Handbook, 9th edition (CFA Institute, 2005), pp. 27-30 2006 Modular Level I, Vol. I, pp. 33-36 Study Session 1?朾 distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and the Standards
The fact that Moore has demonstrated an ability to pick takeover candidates does not imply that he has access to material nonpublic information regarding Megamove. Roberts has no reason to believe that the information was anything more than an opinion expressed by the broker.
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发表于 2006-11-22 10:33
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