NO.PZ2016032801000026
问题如下：
Rose, a portfolio manager for a local investment advisory firm, is planning to sell a portion of his personal investment portfolio to cover the costs of his child’s academic tuition. Rose wants to sell a portion of his holdings in Household Products, but his firm recently upgraded the stock to "strong buy." Which of the following describes Rose’s options under the Code and Standards?
选项：
A. Based on his firm’s "buy" recommendation, Rose cannot sell the shares because he would be improperly prospering from the inflated recommendation.
B. Rose is free to sell his personal holdings once his firm is properly informed of his intentions.
C. Rose can sell his personal holdings but only when a client of the firm places an order to buy shares of Household.
解释：
B is correct.
Standard VI(B) –Priority of Transactions does not limit transactions of company employees that differ from current recommendations as long as the sale does not disadvantage current clients. Thus, answer A is incorrect. Answer C is incorrect because the Standard does not require the matching of personal and client trades.
老师，您好。为什么Rose需要告知公司他的intention？他的操作是和公司recommendation相反的，就算没有disclose，也不算违反material nonpublic information呀，应该也没有违反priority of transaction吧？
