单选题 Theresa Green, CFA, manages the portfolio of Ian Knowlden, a client of Tisbury Investments. Green knows that Knowlden is preparing to sell a large position in the Franklin Industries, a relatively small inactively-traded stock listing in a local exchange. Green places a sell order for Franklin Industries in his own account before the Knowlden's order is placed. Green has most likely violated the Standard(s) of Professional Conduct relating to:
A. only material non-public information.
B. only priority of transactions.
C. both material nonpublic informationand priority of transactions.

【正确答案】 C

【答案解析】[解析] Green在客户交易之前进行个人交易，违反了优先交易权(priority of transactions)的行为标准。客户正准备出售大量股票，而这对股票价格会有重大影响，所以这属于重大的非公开信息，Green利用了该重大的非公开信息进行交易，违反了重大的非公开信息(material nonpublic information)披露的行为标准。