Nolan Brown, CFA, is the owner and sole employee of two companies, a public relations firm and a financial research firm. The public relations firm entered into a contract with Skogland Enterprises to provide public relations services, with Brown receiving 40,000 shares of Skogland stock in payment for his services. Over the next 10 days, the public relations firm issued several press releases that discussed Skogland's excellent growth prospects. Brown, through his financial research firm, also published a research report recommending Skogland stock as a "buy." According to the CFA Institute Standards of Professional Conduct, Brown is most likely required to disclose his ownership of Skogland stock in the ______.

A. press releases only
B. research report only
C. both the press release and the research report

Correct Answer: C

Members should disclose all matters that reasonably could be expected to impair their objectivity.