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Bjorn Sandvik, CFA, completes a research report with a buy recommendation for Acorn Properties. In the early afternoon, Sandvik e-mails this recommendation to his clients who had responded to his request that they provide Sandvik with their e-mail addresses. Later that afternoon, the printed recommendation is forwarded to the postal service for normal delivery to all customers, who receive the mailing 1 to 3 days later. Sandvik has: A. not violated the Code and Standards because he acted fairly in disseminating research information to his clients. B. violated the Code and Standards by sending the e-mail recommendation to only some of his clients. C. violated the Code and Standards by sending the e-mail recommendation in advance of the printed report. |