2、Several years ago Leo Peek, CFA, founded an investment club with three friends. The investment club's account grew rapidly to a substantial size, but the club has not actively traded the account for at least a year and does not plan to resume active trading of the account. Peek's employer requires an annual disclosure of employee stock ownership. Peek discloses all of his personal trading accounts, but does not disclose his holdings in the investment club. Has Peek violated any CFA Institute Standards of Professional Conduct?

A. No.

B. Yes, with respect to fiduciary duty.

C. Yes, with respect to selective disclosure.

D. Yes, with respect to conflicts of interest.

[此贴子已经被作者于2008-11-7 14:02:14编辑过]

2、Several years ago Leo Peek, CFA, founded an investment club with three friends. The investment club's account grew rapidly to a substantial size, but the club has not actively traded the account for at least a year and does not plan to resume active trading of the account. Peek's employer requires an annual disclosure of employee stock ownership. Peek discloses all of his personal trading accounts, but does not disclose his holdings in the investment club. Has Peek violated any CFA Institute Standards of Professional Conduct?

A. No.

B. Yes, with respect to fiduciary duty.

C. Yes, with respect to selective disclosure.

D. Yes, with respect to conflicts of interest.

  
Correct answer = D

Standards of Practice Handbook, 9th edition (CFA Institute, 2005), pp. 113-116,
Standards I-VII
2008 Modular Level I, Vol. 1, pp. 89-92
Study Session 1-2-a
demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations presenting multiple issues of questionable professional conduct
Members should disclose all beneficial ownership that could reasonably cause a conflict of interest. Additionally, because Peek's employer requires the disclosure, a failure to provide full information would violate his employer's policies and CFA Institute Standards of Professional Conduct. 

C??