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Young, a CFA Institute member, is the research analyst responsible for following Night Prowler Security...

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Finance

Young, a CFA Institute member, is the research analyst responsible for following Night Prowler Security Systems, Inc. All the information he has accumulated and documented suggests the company's stock should be rated a weak "hold" because the demand for the firm's new products is poor. During a conversation with other analysts, he learns of takeover rumors regarding the company. Young immediately upgrades his recommendation to buy" based on this new information. Young:

Select one:

A.

violated the CFA Institute Standards of Professional Conduct by failing to distinguish between facts and opinions in his recommendation.

B.

violated the CFA Institute Standards of Professional Conduct because he did not seek approval of the change from his firm's compliance department.

C.

violated the CFA Institute Standards of Professional Conduct because he did not have a reasonable and adequate basis for his recommendation.

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