NO.PZ201604030300005002
问题如下：
2. Does Schmidt violate the CFA Institute Asset Manager Code of Professional Conduct with respect to his current Trezeguet board service?
选项：
A.
No.
B.
Yes, with respect to priority of client interests only.
C.
Yes, with respect to priority of client interests and participation in business relationships.
解释：
C is correct.
Schmidt is on the board of a company whose stock is in microcap indices. This is a conflict of interest, as Ronoldo’s widened investment guidelines allow purchase of Trezeguet stock for the fund. As Schmidt is an insider for the company and received options that can be sold (after 24 months), this relationship should be terminated.
如何理解priority of client interest
