Fernando Abrea, CFA was an analyst for Pacific Investments. In October he
left Pacific and joined Global Securities as manager of a local office. Abrea’s
change of employment came about in the following manner:
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In April, Abrea contacted Global about a possible position he saw advertised
in a financial publication and had exploratory meetings with Global.
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In July, Abrea submitted a strategic plan to Global and signed an agreement
to join Global. He then contracted for office space on behalf of Global.
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On October 15, Abrea's resignation from Pacific became effective. He did not
take any client lists from Pacific.
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On October 16, Abrea mailed a letter that explained his new undertaking with
Global to prospective clients, including his former clients at Pacific.
With respect to Standard IV(A) Loyalty, Abrea:
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A)
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violated the Standard by contracting for office space on behalf of Global.
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B)
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did not violate the Standard.
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C)
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violated the Standard by contacting his former clients at
Pacific.
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