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Randal Brooks is the chief economist for a large brokerage firm. In the aftermath of a national tragedy, Brooks feels that it is very possible that the stock market will drop significantly and not recover for several years. However, he does not believe that this is the most likely scenario but merely that the risk of investing in equities has increased. He decides to write a market commentary to the brokerage clients that discusses the reasons why the market will remain stable and talks about why he, as a private citizen, feels patriotic. He does not mention the increase risk in equities. Brooks has: A. violated the Standards by not including all of the relevant factors in the research report and making patriotic statements. B. violated the Standards by not including all of the relevant factors in the research report, but not by making patriotic statements. C. not violated the Standards. |