Ethics - EOC Q82- blackout period


Which of Trading Procedures is most consistent with the CFA Institute Standards?

Procedure 1: Investment personnel are not permitted to trade securities for five business days prior to trades executed in discretionary client accounts.

Procedure 2: Each quarter a randomly selected group of investment personnel must provide duplicate trade confirmations to the PIA compliance officer. Procedure 3: Investment personnel must receive prior approval for personal trades only for those trades greater than $5,000. The answer is procedure 1. My question: so it will not be classifed as front-run if PM traded before 6 business days?

for this question, best is to proceed by elimination.

Concerning your question, I think 5 days are recommended.

Thanks, so only within black-out is classfied as front-run?