【每日一练】CFA 一级（2015年）

Question：

According to the CFA Institute Code of Ethics and Standards of Professional Conduct, trading on material nonpublic information is least likely to be prevented by establishing:

A. personal trading limitations.

B. selective disclosure.

C. firewalls.

Answer = B

Selective disclosure occurs when companies discriminate in making material nonpublic information public. Corporations that disclose information on a limited basis create the potential for insider-trading violations. See Standard II(A).

CFA Level I

"Guidance for Standards I-VII," CFA Institute

Standard II(A)

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