下一个问题不就是他用未公开的评级下调信息交易？
问题如下图：
选项：
A. 
B. 
C. 
解释：
发亮_品职助教 · 2019年03月05日
Material nonpublic information是这么说的：
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.
也就说知道内幕信息，但是不能利用内幕信息交易，或者促使他人利用内幕信息交易。
第五题题干，问的是偷听内幕信息这件事，而不涉及利用内幕信息交易。所以这道题不选C。
偷听内幕信息只是违反了专业性原则。
下一题是说利用内幕信息交易，在那个框架下，是违反Material nonpublic information的。
NO.PZ201604030300004605 问题如下 5. When listening to the Omega squawk box, es Garcia violate any CFA Institute Stanr? A.No. B.Yes, the stanrregarng professionalism. C.Yes, the stanrregarng materinonpublic information. B is correct.Garcia violatethe Stanrof Professionalism engaging in eavesopping on confintiinformation inclung changes in analyst recommentions anpenng blotras. Accorng to StanrI( members must not engage in professionconinvolving shonesty, ceit, or frauor commit any athreflects aersely on their professionreputation, integrity, or competence. Garcia engages in ceitful conin obtaining information from the squawk box. His actions refleaersely on his professionreputation anintegrity anthus violate StanrI(.Garcia is not in violation of StanrII(—MateriNonpublic Information, although he listens to the materinonpublic information on penng blotras. Possession of sumaterinonpublic information is not a violation of the Stanr whiprohibits acting on the information. He is careful not to tra in stocks mentioneexplicitly on the squawk box. Rather, he sometimes researches competitors another firms operating in the same instry. In one case, he immeately shorts the stoof Tefla Corporation after Omega analyst wngras a firm in the same instry.题目中提到他偷听到Omega公司分析师关于投资的讨论，然后据此做了研究，为避免直接使用内幕信息，去做空了相同行业的交易对手。1）只要不直接使用内幕信息进行交易就不算违反CFA职业道德的利用重大非公开信息进行交易么？2）如果题目改成他听到了内幕信息，并且自己做了研究证实了这个情况，然后基于自己的研究做了相同的交易，属于违反么？
NO.PZ201604030300004605 Yes, the stanrregarng professionalism. Yes, the stanrregarng materinonpublic information. B is correct. Garcia violatethe Stanrof Professionalism engaging in eavesopping on confintiinformation inclung changes in analyst recommentions anpenng blotras. Accorng to StanrI( members must not engage in professionconinvolving shonesty, ceit, or frauor commit any athreflects aersely on their professionreputation, integrity, or competence. Garcia engages in ceitful conin obtaining information from the squawk box. His actions refleaersely on his professionreputation anintegrity anthus violate StanrI(. Garcia is not in violation of StanrII(—MateriNonpublic Information, although he listens to the materinonpublic information on penng blotras. Possession of sumaterinonpublic information is not a violation of the Stanr whiprohibits acting on the information.這題裡面的 G哥偷聽到調研部門的投資建議 is non public 但也不是研究那家公司的內部信息啊 是他們研究的建議而已 不一定materi？或者是 那些公司請調研部門去寫報告 所以調研部門會知道？
NO.PZ201604030300004605 Yes, the stanrregarng professionalism. Yes, the stanrregarng materinonpublic information. B is correct. Garcia violatethe Stanrof Professionalism engaging in eavesopping on confintiinformation inclung changes in analyst recommentions anpenng blotras. Accorng to StanrI( members must not engage in professionconinvolving shonesty, ceit, or frauor commit any athreflects aersely on their professionreputation, integrity, or competence. Garcia engages in ceitful conin obtaining information from the squawk box. His actions refleaersely on his professionreputation anintegrity anthus violate StanrI(. Garcia is not in violation of StanrII(—MateriNonpublic Information, although he listens to the materinonpublic information on penng blotras. Possession of sumaterinonpublic information is not a violation of the Stanr whiprohibits acting on the information.明明G已经aupon materinon public information了呀
Yes, the stanrregarng professionalism. Yes, the stanrregarng materinonpublic information. B is correct. Garcia violatethe Stanrof Professionalism engaging in eavesopping on confintiinformation inclung changes in analyst recommentions anpenng blotras. Accorng to StanrI( members must not engage in professionconinvolving shonesty, ceit, or frauor commit any athreflects aersely on their professionreputation, integrity, or competence. Garcia engages in ceitful conin obtaining information from the squawk box. His actions refleaersely on his professionreputation anintegrity anthus violate StanrI(. Garcia is not in violation of StanrII(—MateriNonpublic Information, although he listens to the materinonpublic information on penng blotras. Possession of sumaterinonpublic information is not a violation of the Stanr whiprohibits acting on the information.misconct包括内容是不是特别广泛
到底选什么