能不能把答案翻译一下呢

问题如下：

In the first scenario Watson discusses, did the research analyst most likely violate any CFA Institute Standards of Professional Conduct?

选项：

A.No.

B.Yes, with regard to the presentation.

C.Yes, with regard to the discussion prior to the presentation.

解释：

1. Correct. The first scenario Watson notes provides no evidence of any violation of the CFA Institute Standards of Professional Conduct. The discussion prior to the meeting is not a violation of Standard II(A): Material Nonpublic Information. Standard II(A) states Members and Candidates who possess material nonpublic information that could affect the value of an investment must not act or cause others to act on the information. While a merger would be considered material information, this merger had already been announced so the information is public. Additionally, no details were given about the merger and no company names were disclosed, so it is unclear which companies she is discussing. There is no evidence she violated Standard III(B): Fair Dealing or Standard V(B): Communication with Clients and Prospective Clients in her discussion of her research process and published investment recommendations or in the comments she made about the merger during an interview on a major television network. Standard III(B) states Members and Candidates must deal fairly and objectively with all clients when providing investment analysis, making investment recommendations, taking investment action, or engaging in other professional activities. Standard V(B) states Members and Candidates must disclose to clients and prospective clients the basic format and general principles of the investment processes they use to analyze investments, select securities, and construct portfolios and must promptly disclose any changes that might materially affect those processes. There is no evidence to indicate she treated the clients in the meeting differently than any other clients. She simply talked about the research process and her research recommendations and opinions that had already been published.

2. Incorrect. The first scenario Watson notes provides no evidence of any violation of the Standards of Professional Conduct.

3. Incorrect. The first scenario Watson notes provides no evidence of any violation of the Standards of Professional Conduct.

• demonstrate a thorough knowledge of the CFA Institute Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations