Steve Michael, CFA is having lunch with one of his friends at a local restaurant and overhears someone talking about a pending merger for Pharmotech stock. Michael walks over to this person because he follows this stock as well and knows nothing of a merger, only to find out it is the company's CEO making these statements. Which of the following Standards of Professional Conduct applies to this situation?

a) Standard II(A)

b) Standard IV(A)

c) Standard V(A)