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Albert Long, CFA, manages portfolios of high net worth individuals for HKB Corp. Alice Thurmont, one of his close friends, heads a local charity for homeless children that depends on donations to operate. Because donations have declined during the past year, the charity is experiencing financial difficulty. Thurmont asks Long to give her a partial list of his clients so that she can contact them to make tax-deductible donations. Because Long knows that the charity provides much benefit to the community, he provides Thurmont with the requested list.
Betty Short, CFA, also works for HKB Corp. She receives a letter from CFA Institute's Professional Conduct Program (PCP) requesting that she provide information about one of HKB’s clients who is being investigated. Short complies with the request despite the confidential nature of the information requested by the PCP.
Based on Standard III(E), Preservation of Confidentiality, which of the following statements about Long and Short’s actions is CORRECT? A. Short violated Standard III(E) but Long did not violate Standard III(E). B. Long violated Standard III(E) but Short did not violate Standard III(E). C. Both Long and Short violated Standard III(E). |