Ethical and Professional Standards Q104

104Alan Clay, candidate in the CFA Program, works for a large money manager. He recently applied for an analyst position at Rodham & Winston, an investment bank and was hired by them. Before leaving his current employer, he copies the firm‟s software that he developed, which he believes is his property. Clay feels that his software is one of a kind and will help him in his new job. Has Clay violated any Standard?

Option : B
Explanation : Clay violated Standard IV(A) Loyalty because he misappropriated her firm’s property without permission.

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