Ethics Question!!

  1. Which of the following statements clearly conflicts with the recommended procedures for compliance presented in AIMR’s Standards of Practice Handbook? A. Prior approval must be obtained for the personal investment transactions of all employees. B. Investment recommendations may be changed by an analyst without prior approval of a supervisory analyst. C. For confidentiality reasons, personal transactions should not be compared to those of clients or the employer unless requested by regulatory organizations. D. Personal transactions include transactions in securities owned by the employee and members of his or her immediate family and transactions involving securities in which the employee has a beneficial interest. Ans is A. can somebody explain me why is A not D

AIMR? This must be an old question. Where did you get this one from?