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| After determining Elise’s risk and return objectives, liquidity needs, tax considerations, and unique circumstances, Pennington has decided the he must reduce Elise’s holding of Allux shares. He has several other clients, whom he met through Flanders, who also have significant holdings in Allux. Pennington has also decided to reduce his own holdings in Allux since his term as a director of Allux will be up in June. He does not plan to seek reappointment, but as a member of the audit committee, he is privy to information about a tender offer. Pennington realizes this is a complex situation.
Of the following Standards, determine which would least likely help Pennington decide what actions with respect to selling shares of Allux would be in compliance with the CFA Institute Standards of Practice. A. Standard III(C), Suitability. B. Standard III(B), Fair Dealing. C. Standard VI(A), Disclosure of Conflicts. |