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The term "material" in the phrase "material nonpublic information" refers to information that is likely to affect significantly the market price of the issuing company's securities or that: A. is acquired by the financial analyst from a special or confidential relationship with the issuing company. B. is derived by the financial analyst from direct communication with an issuing company's management. C. is likely to be considered important by reasonable investors in determining whether to trade a particular security. |