Michael Bellow, CFA, CAIA, is an investment banker who is involved with an initial public offering (IPO) of NewCo. Because this is Bellow’s first involvement in an IPO, he reports to an experienced supervisor. While reviewing past financial statements provided by NewCo, Bellow suspects that NewCo deliberately overstated its earnings for the past several quarters. Bellow seeks the advice of his firm’s highly competent general counsel and follows the advice given without deviation. Based on the general counsel’s advice, Bellow consults his immediate supervisor about the suspected overstatement of earnings. After reviewing the situation, Bellow’s supervisor explains why NewCo’s calculations of its earnings are correct. Bellow realizes that his inexperience and exuberance initially led him to an incorrect conclusion about NewCo’s earnings. Which of the following statements about Bellow’s actions involving Standard Ⅰ (A), Knowledge of the law, and Standard Ⅰ (C) , Misrepresentation, is TRUE Bellow:（）
A. violated both Standard Ⅰ (A) and Standard Ⅰ (C).
B. violated Standard Ⅰ (A) but did not violate Standard Ⅰ (C).
C. did not violate either Standard Ⅰ (A) or Standard Ⅰ (C).
