Answer-first summary for fast verification
Answer: Yes, the Standard relating to knowledge of the law.
The correct answer is **C** because Standard I(A) - Knowledge of the Law requires members to understand and comply with all applicable laws, rules, and regulations. In this case, the member violated this standard by disclosing client information, which was prohibited by applicable law. While Standard III(E) - Preservation of Confidentiality allows disclosure when permissible under law, this scenario clearly indicates that such disclosure was not permitted. The violation does not pertain to fair dealing (Standard III(B)), as the issue is not related to investment analysis or recommendations.
Author: LeetQuiz Editorial Team
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A member employed by a large investment firm is contacted by CFA Institute to assist in a professional conduct investigation. The member discloses client information as requested, despite applicable laws mandating client confidentiality. Which Standard has the member most likely violated?
A
No violation occurred.
B
Yes, the Standard relating to fair dealing.
C
Yes, the Standard relating to knowledge of the law.
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