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ditto · 2024年10月15日

analyst是否有义务去公开

NO.PZ2024022002000056

问题如下:

Working as an analyst at an independent firm, Jacob Marley, CFA, does not handle client assets. During his review of Azure Mines, Marley comes across unconfirmed reports that the CEO of Azure Mines, Johnathan Greer, has been diagnosed with an advanced stage of a neurological disorder, not known to the public. This condition often results in the loss of environmental interaction, speech, and movement control. Greer, a driving force behind Azure Mines' growth, has transformed it into a key player in the sector. In line with the CFA Institute's Ethical and Professional Standards, what should Marley's most appropriate course of action be?

选项:

A.Issue an immediate sell directive for Azure Mines.

B.Validate Greer's medical status before releasing his analysis.

C.Urge the management of Azure Mines to publicize Greer's health condition.

解释:

Option C is correct as Marley should seek to ensure public dissemination of significant, nonpublic information, adhering to Standard II(A) - Material Nonpublic Information. This typically involves prompting the issuer to disclose such information. If Greer's diagnosis is accurate and not just a rumor, it constitutes material information that ought to be disclosed. Option A is incorrect because acting on material nonpublic information directly violates Standard II(A). Option B is also incorrect, as it suggests the potential use of insider information for public recommendations, breaching the same standard.

CEO的健康状况是需要公开的,但是analyst有义务去urge高管公开吗,不说ethics说公司治理analyst也没有这层汇报或沟通通道吧

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已采纳答案

王暄_品职助教 · 2024年10月16日

Jacob Marley是CFA,且在一家独立公司担任分析师,不直接处理客户资产。他在审查Azure Mines时,发现了关于其CEO Johnathan Greer的未确认健康报告。报告指出Greer被诊断为晚期神经系统疾病,这一信息尚未公开。Greer是Azure Mines增长的关键驱动力。

A. 立即发布卖出Azure Mines的指令:

这直接违反了CFA的II(A) 重要非公开信息,即不得利用或传播重要且未公开的信息进行交易。因此,A选项不正确。

B. 在发布分析前验证Greer的医疗状况:

验证信息本身并不违反伦理标准,但使用这种未公开的重要信息进行交易或推荐是违反标准的。此外,分析师通常没有权限或途径去验证此类私人信息。因此,B选项也不正确。

C. 敦促Azure Mines的管理层公开Greer的健康状况:

根据II(A),当分析师得知重要且未公开的信息时,应促使信息发布者(在这里是Azure Mines)公开该信息。这样做符合职业道德,且有助于维护市场的公平性和透明度。因此,C选项是正确的。


关于“analyst是否有义务去urge高管公开”以及“公司治理中analyst的沟通通道”的问题:

作为分析师,Marley有职业道德上的责任去促使重要信息的公开,以维护市场的公平性和投资者的利益。

虽然分析师在公司治理结构中可能不直接对高管负责,但他们作为市场信息的传递者和解读者,有责任确保信息的准确性和透明度。

在实际操作中,分析师可能通过正式或非正式的渠道与公司管理层沟通,以促使其公开重要信息。这种沟通可能包括直接联系公司公关部门、投资者关系部门或通过其他专业渠道。

综上所述,根据CFA的职业道德标准,Jacob Marley应该选择C选项,即敦促Azure Mines的管理层公开Greer的健康状况。

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