Mikalev recently retired from his position as the head of mergers and acquisitions at a large international bank. Two weeks into his retirement, he discovered that he still had access to his banks online business journal subscription, Bloomberg market data feeds, and online data room, which contains highly sensitive documentation about a clients upcoming acquisition. Mikalev had been in the very early stage of working on the acquisition when he left the investment bank. Mikalev enjoys his continued access to the newspaper and Bloomberg and, if he ever considered going back to work in the industry, the information helps him to stay abreast of market trends. Of course, remembering his firms annual compliance training, he does not communicate or trade on the information related to the imminent acquisition by his former client. Mikalevs actions are:

A. appropriate as long as he does not trade on the material nonpublic information.

B. inappropriate because he should not have access to material nonpublic information from his firm.

C. inappropriate because he should not access any of the firms resources.

D. appropriate, even if he trades on the material nonpublic information, because he is no longer bound by his firms standards and compliance policies.

Also write down a brief analysis using the CFA Institute analytical framework (reflect, identify, consider, act)