Explanation

According to the CFA Institute Standards of Professional Conduct, Standard III(E): Preservation of Confidentiality states that members and candidates must keep information about current, former, and prospective clients confidential unless:

1. The information concerns illegal activities
2. Disclosure is required by law
3. The client or prospective client permits disclosure
4. The information is provided in support of an investigation by the CFA Institute Professional Conduct Program (PCP) into the member's conduct

Key points:

• Option A (No) is incorrect because there are exceptions to confidentiality requirements.
• Option B (Yes, if the information concerns activities of a former client) is incorrect because confidentiality applies to former clients as well as current clients.
• Option C (Yes, if the information is provided in support of an investigation by the CFA Institute Professional Conduct Program into the member's conduct) is correct. This is one of the specific exceptions outlined in Standard III(E).

Additional context: The question specifically mentions "if local laws require investment personnel to maintain confidentiality," which reinforces that the CFA Institute Standards provide exceptions even when local laws impose confidentiality requirements. Members must comply with applicable laws, but the CFA Institute Standards allow disclosure in certain circumstances, including PCP investigations.