Question #10 - Reading 42.6 Standards of Professional Conduct Guidance for Standards VI

Reading: Reading 42.6 Standards of Professional Conduct Guidance for Standards VI

PDF File: Reading 42.6 Standards of Professional Conduct Guidance for Standards VI.pdf

Page: 5

Status: Unattempted

Shared Context

- Regarding their research reports, which of the following statements about Linstrom and Wadel's conduct is CORRECT? A) Both Linstrom and Wadel violated Standard VI(A)—Disclosure of Conflicts. B) Wadel violated Standard VI(A)—Disclosure of Conflicts, and Linstrom did not violate Standard VI(A). C) Wadel did not violate Standard VI(A)—Disclosure of Conflicts, and Linstrom did violate Standard VI(A).

Question

What is the obligation, if any, to disclose Wadel's arrangement with Black?

Answer Choices:

A. Wadel must disclose the arrangement to Platt but is not required to disclose the arrangement to his other clients

B. Wadel need not disclose anything to his clients or to Platt because he is violating no fiduciary duty

C. Wadel must disclose the arrangements to his clients and to Platt only if he believes it will create a conflict with his responsibilities to other clients

Actions

Practice Flashcards