Ethical and Professional Standards Q131

0. Ind Bank has recently started advisory services at its new branch in Nhasi located in an affluent neighborhood of high net worth individuals. To promote its services, the bank conducts a marketing drive and in one month signs up many clients. Ent Nes, an advisor at the bank, is meeting with a new client at the latter‟s home. The client wants to know if anyone from the community are Nes‟ clients and whether any private equity (PE) investments have been made. Nes boasts of the business he has garnered in the past month and says a few people have recently made PE investments, but does not reveal their names. Has Nes violated any Standard?

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Option : A
Explanation : The assets managed by a firm is presented to clients, and is not confidential. Since no names or confidential details of the clients were disclosed, Standard III(E) is not violated.

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