Young, a CFA Institute member, is the research analyst responsible for following Night Prowler Security Systems, Inc. Al

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Young, a CFA Institute member, is the research analyst
responsible for following Night Prowler Security Systems, Inc. All
the information he has accumulated and documented suggests the
company's stock should be rated a weak "hold" because the demand
for the firm's new products is poor. During a conversation with
other analysts, he learns of takeover rumors regarding the company.
Young immediately upgrades his recommendation to “buy" based on
this new information. Young:
Select one:
A.
violated the CFA Institute Standards of Professional Conduct by
failing to distinguish between facts and opinions in his
recommendation.
B.
violated the CFA Institute Standards of Professional Conduct
because he did not seek approval of the change from his firm's
compliance department.
C.
violated the CFA Institute Standards of Professional Conduct
because he did not have a reasonable and adequate basis for his
recommendation.