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Answer: No
**Explanation:** According to Standard III (B), Fair Dealing, if an issue is oversubscribed, it should be prorated to all subscribers. Additionally, if the investment professional's family-member accounts are managed similarly to other clients' accounts, they should not be excluded from purchasing such shares. Therefore, Andrews has not violated the Standard, as his actions align with the principles of fair dealing.
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David Andrews, CFA, is an investment manager at Aldona Investments. Aldona secures a block of stock in an oversubscribed initial public offering (IPO). Andrews decides to prorate the issue to all fee-paying accounts for which it is suitable, including the accounts of his immediate family members. Has Andrews violated the Standard relating to fair dealing?
A
No
B
Yes, by prorating the issue to all subscribers.
C
Yes, by including immediate family members in the transaction.
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