单选题

While working on her report, Jean Paul, CFA, learns from her friend in the investment banking department that the company she is analyzing can expect a tender offer very soon. Concerning this conclusion, Paul can（）。

A、 trade on it, because she figured it out by herself.
B、 trade on it, because it is public information.
C、 not trade on it because it is material nonpublic information.

【正确答案】 C

【答案解析】

According to Standard Ⅱ(A), Material Nonpublic Information, an analyst is prohibited from trading on information that is both material and nonpublic.