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Dave Miller, CFA, is one of two founders of an equity hedge fund. Miller manages the fund's assets, and the other co-founder, Paul Silver CFA,
Dave Miller, CFA, is one of two founders of an equity hedge fund. Miller manages the fund's assets, and the other co-founder, Paul Silver CFA, is responsible for fund sales and marketing. Miller notices the most recent sales material used by Silver indicates assets under management are listed at a higher value than the current market value. Silver justifies the discrepancy by stating recent market declines account for the difference. In order to comply with the CFA Institute Standards of Professional Conduct, Miller should least likely take which of the following actions? Provide a disclaimer within marketing material indicating prices are as of a specific date Correct the asset information and provide updates to prospective clients Report the discrepancy to CFA Institute's Professional Conduct Program
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