NO.PZ201604030300004601
问题如下：
1. For a CFA charterholder, would adhering to Omega’s policies regarding riskless principal transactions result in a violation of the CFA Institute Standards of Professional Conduct?
选项：
A.No.
B.Yes, because Omega disadvantages institutional clients.
C.Yes, because disclosure of the policy does not relieve Omega of its obligation to treat clients equally.
解释：
A is correct.
Mark-ups and mark-downs in net trades are considered fees paid by clients. Standard III(B) —Fair Dealing requires that members treat all clients fairly in light of their investment objectives and circumstances. Treating institutional and retail investors differently is not a violation. According to the Standards, members can differentiate their services to clients but different levels of service must be disclosed and should not negatively affect clients. Omega has made the appropriate disclosures to its clients in compliance with legal and regulatory requirements as well as the Standards.
老师您好，我记得交易时按照order size来交易才是fair dealing？这个principal basis是不是有点歧视部分客户了？
