开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

anyewumian · 2020年08月09日

问一道题:NO.PZ2016032801000032

问题如下:

Andrews, a private wealth manager, is conducting interviews for a new research analyst for his firm. One of the candidates is Wright, an analyst with a local investment bank. During the interview, while Wright is describing his analytical skills, he mentions a current merger in which his firm is acting as the adviser. Andrews has heard rumors of a possible merger between the two companies, but no releases have been made by the companies concerned. Which of the following actions by Andrews is least likely a violation of the Code and Standards?

选项:

A.

Waiting until the next day before trading on the information to allow time for it to become public.

B.

Notifying all investment managers in his firm of the new information so none of their clients are disadvantaged.

C.

Placing the securities mentioned as part of the merger on the firm’s restricted trading list.

解释:

C is correct.

The guidance to Standard II(A) –Material Nonpublic Information recommends adding securities to the firm’s restricted list when the firm has or may have material nonpublic information. By adding these securities to this list, Andrews would uphold this standard. Because waiting until the next day will not ensure that news of the merger is made public, answer A is incorrect. Negotiations may take much longer between the two companies, and the merger may never happen. Andrews must wait until the information is disseminated to the market before he trades on that information. Answer B is incorrect because Andrews should not disclose the information to other managers; no trading is allowed on material nonpublic information.

这道题答案C是不是有问题,还是因为最佳答案的原因

1 个答案

王暄_品职助教 · 2020年08月11日

嗨,爱思考的PZer你好:


这道题让我们选最不可能违反CFA准则的是哪个行为。

我们可以依次分析以下三个选项:

A:给信息留点时间被公布,于是选择等到地儿天在交易。(我们要做的时等到信息真正被公开后再利用信息交易,而不是仅仅等到第二天就去交易,这种等待没有意义,依然违反)

B:通知其他的manager这个merger,这样确保他们的客户可以获得优势(违反了资本市场的诚信,我们不可以利用内幕信息自己交易或者促使他们利用内幕信息交易)

C:将这两家公司的股票放入限制性清单(对比这三条,这条是最不可能违反的,放入限制性清单,这样分析师在写关于这两家公司的报告的时候,只能称述事实不能称述观点。所以这样做没有违反。同学你可能认为这样做还不够,比如还要有尽快促使信息公开等行为,但对比其他两条,这条就是最佳答案。)


-------------------------------
加油吧,让我们一起遇见更好的自己!


  • 1

    回答
  • 2

    关注
  • 1006

    浏览
相关问题

NO.PZ2016032801000032 Notifying all investment managers in his firm of the new information so none of their clients are saantage Placing the securities mentionepart of the merger on the firm’s restrictetrang list. C is correct. The guinto StanrII(–MateriNonpublic Information recommen aing securities to the firm’s restrictelist when the firm hor mhave materinonpublic information. aing these securities to this list, Anews woulupholthis stanr Because waiting until the next y will not ensure thnews of the merger is ma publianswer A is incorrect. Negotiations mtake mulonger between the two companies, anthe merger mnever happen. Anews must wait until the information is sseminateto the market before he tras on thinformation. Answer B is incorrebecause Anews shoulnot sclose the information to other managers; no trang is alloweon materinonpublic information.又不是故意打听内幕信息,被动知道的信息,在没公开之前不用不就完了,公开之后再用呗,怎么还给限制了,照题目这说法公开以后也不能用,照这样以后最好什么信息也别知道,万一被动知道的内幕信息多了,那得错过多少投资机会,什么玩意儿啊

2022-03-30 15:17 1 · 回答

NO.PZ2016032801000032 Notifying all investment managers in his firm of the new information so none of their clients are saantage Placing the securities mentionepart of the merger on the firm’s restrictetrang list. C is correct. The guinto StanrII(–MateriNonpublic Information recommen aing securities to the firm’s restrictelist when the firm hor mhave materinonpublic information. aing these securities to this list, Anews woulupholthis stanr Because waiting until the next y will not ensure thnews of the merger is ma publianswer A is incorrect. Negotiations mtake mulonger between the two companies, anthe merger mnever happen. Anews must wait until the information is sseminateto the market before he tras on thinformation. Answer B is incorrebecause Anews shoulnot sclose the information to other managers; no trang is alloweon materinonpublic information.请问这个知识点在讲义第几页呢

2021-07-21 18:16 1 · 回答

    A为什么不对,直到信息公开

2019-04-19 20:46 1 · 回答

得到内幕消息只要不利用不让他人利用即可,如果直接放入restrictelist难道不会反而反应过度了吗?

2018-11-12 23:20 1 · 回答