CFA Practice Question
Peter Hendricks is an investment advisor to the Sellers family. He receives a call from the tax advisor of the Sellers family asking for information about holdings to decide whether any sales have to be made to minimize taxes. The tax advisor cannot contact the Sellers family as they are away on vacation.
A. Hendricks should not disclose the requested information to preserve client confidentiality.
B. Hendricks may disclose the requested information if the request is made in writing.
C. Hendricks should not disclose the requested information even if the Sellers family had left written instructions that the information should be disclosed to the tax advisor on request.
Explanation: Can't violate client confidentiality.
User Contributed Comments 1
| User | Comment |
|---|---|
| Mikehuynh | Preservation of confidential information of clients. Only disclose when: 1. Info regarding illegal activities of clients 2. Authorization from clients 3. Required by courts |