NO.PZ2018062009000004
问题如下：
Which of the followings most likely violated the Code and Standards recommended by the CFA Institute?
选项：
A.Manager should not disclose informations received from clients without permission unless required by law.
B.Manager can make an investment conclusion by analyzing public information and non-material nonpublic information
C.As long as the manager send a written report to the employer which details any gifts from clients, the manager is allowed to accept the gifts.
解释：
C is correct.
A complies with Standard III(E) Preservation of Confidentiality. B is so called mosaic theory, which is not a violation of the standard. Disclose any gifts from clients to the employer is required in Standard I(B) Independence and Objectivity. However, luxury gifts may have effects on manager's independence and objectivity. Therefore, only token items can be accepted.
选项A符合准则III(E)的规定。
选项B是马赛克理论，因此也未违反准则的规定。
准则I(B)规定，CFA会员应当向雇主披露任何客户赠予的礼物，但是非常奢侈的礼物可能会影响财富经理的独立客观性，因此只能收取一般性的礼物。
法律要求就可以披露了吗
