NO.PZ2024022002000178
问题如下:
Tania Watt, CFA, disseminates recommendations to purchase specific bonds to her clientele, without extensive elaboration. She informs them that they can request more details. Subsequently, a sudden rise in interest rates leads to a decline in the value of these bonds, causing substantial losses for her clients. Is Watt likely in violation of ethical standards for her actions?选项:
A.No, she is not in violation. B.Yes, due to the substantial losses incurred by her clients following her recommendations. C.Yes, for providing incomplete information in her initial bond recommendations.解释:
Option A is correct. As per Standard V(B), Communication with Clients and Prospective Clients, Watt fulfilled her duty by alerting clients that additional information was accessible upon request. She is not liable for the unpredicted market changes that happened after her advice was given. The decline in bond prices due to external factors such as interest rate fluctuations does not constitute a violation on her part.如果她不在建议里面做完整的陈述,而是告知客户需要详细信息联系她,那么必然造成她和客户沟通存在先后顺序的差异,早联系的客户就更早的拥有交易的判断信息优势,这是否会导致违反fair dealing?