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Petra Maybolk, CFA, works for a large investment firm where she oversees a team of market makers. Maybolk's firm has just taken a small issuer public and is a market maker in the issuer's stock. After receiving material nonpublic information about the small issuer, Maybolk instructs her subordinates to continue market-making activities for the small issuer and to take only the contra side of unsolicited customer trades in the stock.
Did Maybolk's actions violate the Standards?
A
No
B
Yes, because Maybolk instructs her subordinates to continue market-making activities for the small issuer
C
Yes, because Maybolk instructs her firm's market maker to only take the contra side of unsolicited customer trades in the small issuer's stock