Several years ago, Simon Ma, CFA, founded an investment club with three friends. The investment club’s account grew rapidly to a substantial size, but the club has not actively traded the account for at least a year and does not plan to resume active trading of the account. Simon’s employer requires an annual disclosure of employee stock ownership. Simon discloses all of his personal trading accounts., but does not disclose his holdings in the investment club. Has Simon most likely violated any CFA Institute Standards of Professional Conduct（）
A. No
B. Yes, with respect to fiduciary duty.
C. Yes, with respect to confilicts of interest.