Shawn Crane, CFA, is the Chief Information Officer (CIO) for Blind Trust (BT). Dunder recently assigned one of his portfolio managers, Doug Spader, to manage several accounts that primarily invest in thinly traded micro-cap stocks. Crane soon notices that Spader places many stock trades for these accounts on the last day of the month, towards the market’s close. Crane finds this trading activity unusual and speaks to Spader, who explains that the trading activity was completed at the client’s request. Crane does not investigate further. Six months later regulatory authorities sanction BT for manipulating micro-cap stock prices at month-end in order to boost account values. According to the Standards of Practice Handbook, did Crane violate any CFA Institute Standards of Professional Conduct（）
A. No.
B. Yes, because he failed to reasonably supervise Spader.
C. Yes, because he did not report his findings to regulatory authorities.
