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568919751 · 2020年07月05日

问一道题:NO.PZ2016032802000008 [ CFA II ]

问题如下:

Giorna Booa,an investment firm in the United States. Once the recommendation changes have been announced, it always starts trading for its own account immediately. It is likely that this firm violates the Code and Standards?

选项:

A.

No, the firm can trade for its own account any time.

B.

Yes.

C.

No, the firm can trade before its clients.

解释:

B is correct.

According to Standard III(B) Fair Dealing, the company must give its clients enough time to take action based on their recommendations or changes.

题干中没说明这个recommandation是这家投资公司做出的,不可以看到别家公司recommanfation改变就立即交易吗?

1 个答案

王暄_品职助教 · 2020年07月07日

嗨,从没放弃的小努力你好:


无论是这家公司自己给的recommendation或是别家公司给出的recommendation,只要在投资建议改变后,立刻(immediately)给自己公司的投资账户做交易,都是违反了Fair dealing。投资公司需要在投资建议改变后,首先给客户的账户做交易。


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