5. Bernie, a private wealth manager, is conducting interviews for a new research analyst for his firm. One of the candidates is Wright, an analyst with a local investment bank. During the interview, while Wright is describing his analytical skills, he mentions a current merger in which his firm is acting as the adviser. Bernie has heard rumors of a possible merger between the two companies, but no releases have been made by the companies concerned. Which of the following actions by Bernie is least likely a violation of the Code and Standards? A. Waiting until the next day before trading on the information to allow time for it to become public. B. Notifying all investment managers in his firm of the new information so none of their clients are disadvantaged. C. Placing the securities mentioned as part of the merger on the firm's restricted trading list