Latham has been following a publicly traded oil firm, Techron Oil. Recently, he read a review about the oil fields in Ve

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Latham has been following a publicly traded oil firm, Techron Oil. Recently, he read a review about the oil fields in Venezuela, to the effect that the actual oil content of the fields across the country might be as much as 35% higher than previously estimated. Techron owns sizable properties in Venezuela and Latham has concluded that the research report implies that Techron might have as much as a million gallons a day in excess capacity that has not been factored into the stock price. In his report, he properly attributed the original review as the source of his information and recommended that in his opinion, Techron's stock was an immediate BUY. Latham hasI. violated Standard V (A) - Prohibition against Use of Material, Non-Public Information.II. violated Standard IV (A.2) - Research Reports by failing to distinguishing between fact and opinion.III. violated Standard IV (A.1) - Reasonable Basis and Representations.IV. violated Standard II (C) - Prohibition against Plagiarism.

A. II, III and IV only
B. III only
C. none of them
D. I and III only