Question:
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?