NO.PZ2023021602000042
问题如下：
Elliott Johnson, CFA, a portfolio manager at Childress Investment Management, a mid-size asset management firm, actively uses social media to discuss his firm's outlook on the market and the stocks its analysts cover. He frequently posts on the firm's Facebook page, his personal Twitter account, and the firm’s password-protected website. Which of the following would most likely result in Johnson violating CFA Institute Standard III(B): Fair Dealing?
选项：
A.His tweet, "I'll be recommending approval for this acquisition to the Investment Committee!" B.His post on the firm's website listing companies reporting earnings over the next week, including consensus expectations versus the firm's analysts' expectations C.His post on Facebook following the quarterly reporting period to the firm's clients giving the firm's expectation regarding economic growth for the next 12 months解释：
A is correct. Johnson's tweet using his personal Twitter account, "I'll be recommending approval for this acquisition to the Investment Committee!" is likely a violation of CFA Institute Standard III(B): Fair Dealing. The standard 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." It is recommended that, to ensure simultaneous dissemination, the firm establish procedures for timing the dissemination of investment recommendations so that all clients are treated fairly. Since he is using his personal Twitter account, it is unlikely that all the firm's clients would receive the information at essentially the same time because it is unlikely all the firm's clients follow him on Twitter. Additionally, it is highly likely that he is followed by others who are not clients of the firm. Consequently, those followers would be given preferential treatment over any clients who do not follow him. Best practice for members and candidates is to maintain separate accounts for their personal and professional social media activities. They should discuss with their employers how profiles should be treated when a single account includes personal connections.
B is incorrect. Johnson's post on the firm's website regarding upcoming earnings announcements including consensus expectations versus the firm's analysts' expectations is not a violation of Standard III(B): Fair Dealing. The website is password protected and is available to all the firm's clients. Furthermore, only the firm's clients have access to the website. Additionally, the post does not concern investment recommendations or actions. It merely informs clients of upcoming announcements and how the firm's analysts' earnings expectations compare with consensus expectations.
C is incorrect. Johnson's post on the firm's Facebook page about its expectations regarding economic growth for the next 12 months is not a violation of Standard III(B): Fair Dealing. His post occurred after the quarterly reporting period to clients, who would not be disadvantaged following his Facebook comment.
C为什么不能选
