614****4639
2024-04-27 12:40Mattock, head of research dept. of H&V, a brokerage firm, has decided to change recommendation for Timber from buy to sell. In line with H&V’s procedures, she orally advises other executives of recommendation change before publication. After her conversation with Frampton, one of the executives of H&V, Frampton immediately sells (front running) Timber stock from his own account and some discretionary client accounts. Other personnel also inform certain institutional customers of the changed recommendation before publication and dissemination to all H&V customers. Comment: Mattock violated Standard IV (C) by failing to supervise reasonably and adequately the actions of those accountable to her. She also must ensure that her firm has adequate procedures for unethical practice. Meanwhile, violate II(A), VI(B) Priority of Transaction. 請問為什么 違反了II(A) 投資公司的recommendation 難道算是MNI 嗎？這里公司將消息提前傳達給了一些客戶，但為什么又沒有違反III(B) ?
所屬：CFA Level III > Ethical and Professional Standards 視頻位置 相關試題
來源： 視頻位置 相關試題
1個回答
Fenton Chen助教
2024-04-27 20:17
該回答已被題主采納
同學，你好！
投資公司的推薦會對股價產(chǎn)生影響，所以在公布前要盡量越少人知道，并且要縮短做出推薦和公布間的時間以免被泄露。
公司提前告訴給自己公司的客戶是允許的，尤其是對于買了該家公司的客戶。但如果公司客戶有100個，只是告訴給其中部分客戶這是違反fair dealing。此條款主要是針對客戶與客戶間要公平對待，fair 不等于 equal.
非本公司客戶沒有義務要和本公司客戶一樣的知情權，需要同時知道投資推薦。
如果公司員工先于客戶交易，違反了priority of transaction.
望采納，謝謝！
0
0
0
0
