老师

问题如下：

In her pursuit to pass the Level I CFA exam, Rebecca Wong acquires last year's CFA study materials in a photocopied format from William Leung. Assessing this scenario, who is most likely in breach of the CFA Institute’s Code of Ethics or any Standards of Professional Conduct?

选项：

A.Both Wong and Leung are in violation.

B.Neither Wong nor Leung has violated any standards.

C.The violation lies solely with Leung.

解释：

Option A is correct. By purchasing and distributing photocopied copyrighted study materials, both Wong and Leung have contravened the CFA Institute's ethical guidelines, specifically Standard I(A). This standard mandates compliance with all applicable laws, including copyright laws, which they knowingly disregarded.