Reference no: EM132785536

Scenario: Rauf Ahmad, a junior research analyst and a candidate in the CFA Program, has been recently hired to cover the mining industry. Ahmad has been asked to go over the firm's compliance procedures especially regarding the flow of information between the trading desks and the research department. Doug Harvey CFA, and head of the research department, tells him that the firm is very particular about not leaking information into the market and follows all the regulatory procedures in addition to the CFA Institute's Code and Standards. As the deadline of the report comes up, Ahmad pressed for time reads up online brokerage reports on the mining industry, talks to a trader friend and goes over the past reports on the subject by his predecessors. He is able to produce the report in which there's no reference to the brokerage reports or the comments made by his friend, since he feels all that information is publicly available. Discuss how and why this is a likely CFA Standard violated by Ahmad.