book6 上的一个很晕的道德题。大家分析一下四个选项

plato

3. Ralph Malone, CFA, is an investment advisor at a multinational fiance corporation. He has many welthy individuals among his client base, including atrust account that benefits three of his immediate family members as well aw himself.The research department of Malone's firm issues a buy recommendation on a stock that would be a suitable investment for several client accounts, including the family trust account. Which of the following would be considered a violation of Standard VI-B Priority of Transactions

A. Malone trades for his clients' accounts before the release of material nonpublic information

B. Malone trades on the family account immendiately after his firm's clients have been informed of the buy recommendaiton

C Malone waits to trade on the family account until four days ater his firm's clinets have been informed buy recommendation.

D. Malone buys stock for a client's account after the stock is put on the firm's recommended buy list but before this information is made public.

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D是不是违反了fair dealing 和priority of transaction? 因为recommendation还没有公布，另一部分client还不知情的情况下你就已经交易了。

C是不是也违反了fair dealing? 因为他family的trust的那个account，也是他的client。。居然等公布了4天之后交易，显失公平。

B似乎没有任何问题。

A显然就是乱说话，，违反了实质性非公开信息。material nonpublic information.

大家看我分析得对吗？

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但是这题的答案是B...匪夷所思  + +

plato

（道德手册上P122）

VI- confilicts of interest B proiority of transcactions

有这样一句话：

Family accounts that are client accounts should be treated like any other firm account and should neither be given special treatment nor be disadvantaged because of an exisintng family relationship with the account, however, the member or candidate may still be subject to pre-clearance or reporting requirements of their employer or applicable law.

C选项将家庭成员受益的帐户，同时也是公司的客户的帐户，过了n多天再交易，是不是be disadvantaged because of an exisintng family relationship with the account？

能不能解释一下，为什么C不违反 VI-B?

plato

may still be subject to pre-clearance or reporting requirements of their employer or applicable law.

我看见这句话了。可是这里用的情态动词是may.. 是可能而非必需。。。

会员与candidate可能被要求提前清仓或申报

但是是of their employer or applicable law.

不是of Standards of Practise.