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Liam · 2018年06月02日

问一道题:NO.PZ2016032801000033 [ CFA I ]

问题如下图:

    

选项:

A.

B.

C.

解释:


感觉这题选项B写的不是很好,Pietro是通过个人账户去购买了2000股,且不论其个人账户是否能对市场产生一个引导的作用,2000股就市场操纵了?即使是平时交易量的四倍也说明不了问题,只能说明其之前的持股就很少很少。同时,选项B到底花钱买了谁的股票也没有交代。

诸多疑问。

1 个答案
已采纳答案

发亮_品职助教 · 2018年06月05日

最后问题的出发角度是:Pietro想提高被兼并的可能性,然后哪种行为违反了Code and standards。如下:

Pietro wants to increase the likelihood of structuring a merger deal quickly. Which of the following actions would most likely be a violation of the Code and Standards?

这2000 shares是周交易量的4倍,所以还是具有抬高股价的能力的。平时他处于正常的目的,是可以购买自己股票的;但是在此时,由于他想促成交易,从他的交易目的出发,大幅买入股票,抬高股价,提高谈判筹码。这是违反的。

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NO.PZ2016032801000033 问题如下 Pietro, presint of LocBank, hhirethe bank’s market maker, Vogt, to seek a merger partner. Locis currently not listeon a stoexchange anhnot reportethit is seeking strategic alternatives. Vogt hscussethe possibility of a merger with severfirms, but they have all cito wait until after the next perios financita are available. The potentibuyers believe the results will worse ththe results of prior perio anwill allow them to pless for LocBank. Pietro wants to increase the likelihooof structuring a merger quickly. Whiof the following actions woulmost likely a violation of the Co anStanr? A.Pietro coulinstruLocBank to issue a press release announcing thit hretaineVogt to fina merger partner. B.Pietro coulplaa buy orr for 2,000 shares (or four times the average weekly volume) through Vogt for his personaccount. C.After confirming with Local’s chief financiofficer, Pietro coulinstruLocto issue a press release reaffirming the firm’s prior announceearnings guinfor the full fiscyear. B is correct.Through placing a personpurchase orr this significantly greater ththe average volume, Pietro is violating StanrIIB–Market Manipulation. He is attempting to manipulate increase in the share prianthus bring a buyer to the negotiating table. The news of a possible merger anconfirmation of the firm’s earnings guinmalso have positive effects on the priof LocBank, but Pietro’s actions in instructing the release of the information es not represent a violation through market manipulation. Announcements of this nature are common anpracticto keep investors informe Thus, answers A anC are incorrect. 题干特意提到LocBank is not listeon exchange stock,那又如何可以通过购买2000股来增加交易量呢?

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2020-03-03 11:31 1 · 回答

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