单选题
Ward is a junior research analyst with JPS, a brokerage and
investment-banking firm. JPS's mergers and acquisitions department has
represented the Danier Company in all of its acquisitions for the past 20 years.
Two of JPS's senior officers are directors of various Danier subsides. Ward has
been asked to write a research report on Danier. What is the best course of
action for him to follow?
- A. Ward may write the report if she discloses the special relationships with
the company in the report.
- B. Ward may write the report but must refrain from expressing any opinions
because of the special relationships between the two companies.
- C. Ward should not write the report because the two JPS officers are
constructive insiders.
【正确答案】
A
【答案解析】[解析] 本题主要涉及执业操守标准Ⅵ(A)(披露冲突)的相关规定。
本题涉及两方面的事实：一是渥德需要为其雇主公司的客户撰写研究报告；二是雇主公司的两位高管在研究报告所针对的公司中任职。上述两方面的事实有可能导致潜在的利益冲突，从而渥德应当在其研究报告中对上述事实加以充分披露。
渥德是否在研究报告中表达观点与其承担的披露相关潜在利益冲突的义务无关。也就是说，在研究报告中不表达自身观点并不能免除渥德披露两家公司(JPS公司和Danier公司)之间的特殊关系的义务。因此，选项B不是最佳的措施。
在已对可能导致潜在利益冲突的事实进行全面披露后，即使雇主公司与研究报告所针对的公司存在特殊关系，渥德仍可以撰写相关研究报告。因此，选项C也不是最佳的措施。