Question

Vincent Allen, CFA, was a stock analyst with a large investment bank. He recently left to start his own research firm. Based on his memory, he reconstructed a few research reports on companies that he covered during his former employment. He was able to find all the supporting documents for his report online, except the meeting notes he had with the management of the covered companies, and then he published the reports. Which of the following is most likely true?

a. Allen is in violation of the Standard relating to record retention.
b. Allen is in violation of the Standard relating to duties to employers.
c. Allen is not in violation of any Standard.

Answer 1

Answer: A. Allen is in violation of the Standard relating to record retention.

Step-by-step explanation:

The option that's most likely true is that Allen is in violation of the Standard relating to record retention.

It should be noted that records retention has to do with the safeguarding of important records in the organization.

Since he reconstructed a few research reports on companies that he covered during his former employment after starting his own research, he violated the standard relating to record retention