问题如下：
4. When placing the morning phone call on speakerphone, does Smith violate any CFA Institute Standards?
选项：
A. No.
B. Yes, his duty to Omega.
C. Yes, his duty to clients and to Omega.
解释：
C is correct.
Smith violated his duties to both clients and Omega by not protecting confidential information. By providing Garcia access to confidential information such as changes in recommendations and information regarding block trades, Smith provided Garcia the opportunity to front-run, which could cause harm to both Omega and its clients. Thus, Smith’s actions violate his duty of loyalty, prudence, and care to his clients and his duty of loyalty to his employer, Standards III(A) and IV(A), respectively.
老师，这题没看懂，请解释一下是个什么情景，要怎么理解，谢谢！