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Sofia nice · 2024年08月13日

如果

NO.PZ2018062009000026

问题如下:

Smith, a portfolio manager, is planning to sell part of his personal portfolio to pay for his children’s medical charges. Smith wants to sell some of his shares of Company M, but his company puts the "strong buy" recommendation of the stock recently. Which of the followings most likely describes Smith's choices under Code and Standards?

选项:

A.

Smith can only sell his personal shares when the company's clients place an order to buy shares of Company M.

B.

Smith is free to sell his personal shares after informing his company of his intentions.

C.

Smith could not sell these shares because of his company's "buy" recommendation.

解释:

B is correct.

Standard VI(B) Priority of Transactions does not ban transactions in which the company’s employees are different from the current proposal, as long as sales are not detrimental to the current clients.

准则VI(B)并不禁止员工私人账户的交易与公司当前的建议相反,只要员工私人账户没有先于客户账户交易即可。

如果公司发布的是卖,那他即使很着急给孩子看病或者付学费,是不是也必须等到客户卖完,自己才能卖啊?

1 个答案

王暄_品职助教 · 2024年08月14日

的,您的理解是正确的。根据CFA协会的道德准则,VI(B)关于交易优先权的规定,如果公司发布的是卖出建议,员工在进行个人交易时确实需要等到客户交易完成后才能进行。这是为了确保员工的个人交易不会优先于客户的交易,从而可能损害客户的利益。


在这种情况下,即使员工有紧急的个人需求(如支付孩子的医疗费用或学费),他们也需要遵守这一规定。这意味着员工需要等待,直到公司的客户已经完成了卖出交易,然后才能进行自己的个人卖出交易。

这样的规定是为了维护市场的公平性和客户的利益,确保员工的个人交易不会干扰或损害公司与客户之间的交易关系。因此,即使面临紧急情况,员工也需要遵守这一道德准则。