Kim Stone, CFA, works at trading desk in Howard Hedge Funds. Samuel Peter, a chief investment manager for Howard has instructed Stone to sell a large amount of one stock based on an inside information of significant legal disputes. Peter inadvertently heard the information from a company's president in an elevator. Stone is unaware that Peter got this information. Stone accepts the trade instruction and completes the order. Has Stone most likely violated the Standards of Professional Conduct()
A. No.
B. Yes, with respect to responsibilities of supervisors.
C. Yes, with respect to material nonpublic information.