问一道题：NO.PZ201604030300004702 第2小题

NO.PZ201604030300004702 问题如下 2. When participating in the roshows in Switzerlan Riser least likely violates the Stanrrelating to: A.sclosure of Conflicts. B.InpennanObjectivity. C.AitionCompensation Arrangements. C is correct.Riser least likely violates StanrIV(—AitionCompensation Arrangements when participating in the roshows. The Stanrprovis guinregarng the acceptanansclosure of compensation thmight confliwith employer’s interests. Participating in the roshows anreceiving compensation from the subsiary not appeto confliwith his employer’s interests.When participating in the roshows, Riser mviolate Stanr I(—InpennanObjectivity anVI(—sclosure of Conflicts. The Stanrrelating to InpennanObjectivity requires thmembers use reasonable care anjument to achieve anmaintain inpennanobjectivity in their professionactivities. Riser’s role boarmember couljeoparze his objectivity ancreate a confliof interest. StanrVI(—sclosure of Conflicts requires thmembers make full anfair sclosure of all matters thcoulreasonably expecteto impair the inpennanobjectivity or interfere with respective ties to the clients, anprospective clients. Full sclosure allows clients to jue motives anpossible biases for themselves. Riser es not appeto make aquate sclosure.

NO.PZ201604030300004702 问题如下 SebastiRiser, CFworks a portfolio manager for Swibank, a small private bank in Switzerlan Riser manages the accounts of his clients accorng to best practices, keeping clients’ interests before those of the bank anhis own. He allocates investments in a fair manner when he ems them consistent with the stateobjectives anconstraints of clients.Swibank ha Luxembourg subsiary, whistributes funof-fun procts. Riser recently receivea request to serve on the boarof rectors for the subsiary. In this role, Riser woulaise management on business strategies; market opportunities; potenticlients; ancurrent anprospective funmanagers. For his role on the boar Riser woulreceive annupayment rectly from the subsiary equivalent to 5% of his totportfolio manager salary in SwitzerlanThe following month, Riser accepts the position on the boar The subsiary registers eanew funof-fun prowith regulatory authorities in Luxembourg anscloses Riser’s role a boarmember in the requirefilings, whiare public anrealy available.Riser serves the contaperson for the subsiary’s institutionclients in Switzerlananparticipates in the subsiary’s roshows in Switzerlan His role ring these roshows varies. On some occasions, he simply atten the presentations while the operating management sells the procts; on others he gives the actupresentation promoting the procts. Riser’s name es not appein the promotionmateristributethe roshows.Alexanr Komm, a long-time colleague of Riser, is the founr of Komm Private Management, whiprovis asset management, aisory, antrust services to high-net-worth invials. The firm hseverwell-manageproprietary fun. Komm offers Riser a position with the firm managing partner. Riser is flattere but clines the offer, explaining thhe is very happy working Swibank.Thsame week, the subsiary informs Riser thit nee experiencefunmanager to manage a new publicly-traJapanese equity proct. Riser is convincethKomm Private Management woulqualifieanrecommen the firm for the new proct. After a thorough searprocess, the subsiary hires Komm Private Management for the new proct.Six months later, after numerous scussions, Komm finally convinces Riser to join Komm Private Management a managing partner. The following week, Riser submits his resignation the private bank. His position on the boarof the subsiary is not pennt on his employment the bank, anhe agrees to serve the remaining three years of his term.After signing ansubmitting his employment contrato Komm, Riser takes three weeks of vacation before starting his new position. ring this time he purchases 2,000 shares of the new Japanese equity profor his private account. When he begins working Komm Private Management, he purchases a large bloof shares in the Japanese equity proct, whihe allocates accorng to internproceres to all accounts for whiit is suitable.2. When participating in the roshows in Switzerlan Riser least likely violates the Stanrrelating to: A.sclosure of Conflicts. B.InpennanObjectivity. C.AitionCompensation Arrangements. C is correct.Riser least likely violates StanrIV(—AitionCompensation Arrangements when participating in the roshows. The Stanrprovis guinregarng the acceptanansclosure of compensation thmight confliwith employer’s interests. Participating in the roshows anreceiving compensation from the subsiary not appeto confliwith his employer’s interests.When participating in the roshows, Riser mviolate Stanr I(—InpennanObjectivity anVI(—sclosure of Conflicts. The Stanrrelating to InpennanObjectivity requires thmembers use reasonable care anjument to achieve anmaintain inpennanobjectivity in their professionactivities. Riser’s role boarmember couljeoparze his objectivity ancreate a confliof interest. StanrVI(—sclosure of Conflicts requires thmembers make full anfair sclosure of all matters thcoulreasonably expecteto impair the inpennanobjectivity or interfere with respective ties to the clients, anprospective clients. Full sclosure allows clients to jue motives anpossible biases for themselves. Riser es not appeto make aquate sclosure. 他在子公司的role是【In this role, Riser woulaise management on business strategies; market opportunities; potenticlients; ancurrent anprospective funmanagers.】这些子公司的role和他在母公司的本职工作，是可能产生利益冲突的啊，所以他收到的5%的报酬，也涉及aitioncompensaiton

如果说与雇主利益没有冲突，那为什么违反了A呢。 而且这里面也没有说，他把路演的利益和收入提前报告给雇主得到雇主同意，如果A违反了，C也应该违反了。