单选题
An analyst routinely has the opportunity to offer his clients the
opportunity to purchase "hot new issues. " He tells his clients that he will
distribute each issue equally among those interested, with himself included in
the distribution. The clients do not object to this. With respect to
Standard Ⅵ (B) , Priority of Transactions, this :
- A. cannot be a violation because the clients know of the practice and
agree.
- B. may be a violation because it is impossible to distribute hot new issues
equally.
- C. may be a violation despite the clients' approval.
【正确答案】
C
【答案解析】Just because the clients know of a practice does not make it right. The analyst must put the clients first. It is a violation for the analyst to participate in a "hot new issue" which can lower the allocation to any given client below what that client would prefer. This is tantamount to putting the analyst's interests ahead of the clients' interests.