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7.Lin Liang,CFA,is an investment manager and an auto industry expert.Last month,Liang requested securities regulators to open an investigation into accounting irregularities at Road Rubber Company (RRC) despite having no basis for the request.Shortly before he spoke to the regulators,Liang shorted RRC stock for his clients.Once the regulators opened an investigation,Liang leaked this information to multiple sources in the media.When news of the investigation became public,the share price of RRC immediately dropped 30%.Liang then covered the short positions and made $5 per share for his clients.Liang least likely violated which of the CFA Institute Standards of Professional Conduct? A.Misconduct. B.Market Manipulation. C.Priority of Transactions. |
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