Ethical and Professional Standards Q92

92Christina Lucci, a CFA candidate, who is a portfolio manager of a growth mutual fund, maintains an account in her sister‟s name at several brokerage firms with which her fund‟s clients also do business. Whenever an eagerly awaited equity IPO is announced, she instructs the brokers to buy it for her sister‟s account. Because such issues are scarce, her clients are unable to receive any new shares. Lucci most likely violates the CFA Institute Standards of Professional Conduct related to:

Option : A
Explanation : Refer to Standard VI(B) Priority of Transactions.

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