单选题 Brian Bellow, a CFA Institute member, is a portfolio manager for Progressive Trust Company. Several friends asked Bellow to review their investment portfolios. On his own time, Bellow examined their portfolios and made several recommendations. He received no monetary compensation from his friends for his investment advice and provided no future investment counsel to them. According to CFA Institute Standards of Professional Conduct, did Bellow violate his duty to Progressive Trust?

A. No, because Bellow provided no ongoing investment advice.
B. No, because Bellow provided investment advice to his friends.
C. Yes, because he undertook an independent practice that could result in compensation or other benefit to him.

【正确答案】 C

【答案解析】Standard Ⅳ(A) does not preclude providing independent services for compensation while still employed; however, notification to the employer is required describing the type of service, the expected duration, and the compensation. Compensation includes more than just monetary benefits.