单选题
Douglas, CFA, is a portfolio manager for TE&S Investments. The
fixed-in-come desk at TE&S has developed a new structured product that
produces positive returns in a very wide range of interest rate scenarios.
Douglas thoroughly reads and evaluates an analytical report about the product
and is impressed by its return profile. He faxes the cover page of the analysis,
which includes the name of the author, to a client with objectives similar to
that of the structured product, and handwrites a note the client saying, "I
think you should act quickly on this." When the client calls requesting the
entire report, Douglas informs that the research is proprietary and cannot be
released. With respect to the CFA Institute Standards of Professional Conduct,
is Douglas in violation of Standard Ⅴ (B) Communication with Clients or
Prospective Clients or Standard Ⅲ (C) Suitability?
Standard Ⅴ (B) Standard Ⅲ (C)
①
No Yes
② Yes No
③ Yes Yes
【正确答案】
B
【答案解析】[解析] 根据执业操守标准Ⅴ(B)的规定，与客户或潜在客户的交流形式并不仅限于就特定证券、公司或行业向客户提交的书面研究报告，有关信息的传达可以采用任何交流形式，例如私人建议、电话交谈、媒体广播或通过互联网的交流。因此，本题中向客户发送的手写便笺也属于上述信息交流的范畴。执业操守标准Ⅴ(B)要求会员在向客户或潜在客户提供投资建议时，应当有充足的参考资料作为支持。在本题中，道格拉斯仅向客户出具了研究报告的封面，并拒绝提供研究报告的全文，因而违反了执业操守标准Ⅴ(B)的相关规定。
由于道格拉斯在向客户发出投资建议以前，已全面阅读和评估了研究报告，因而并未违反执业操守标准Ⅲ(C)的相关规定。