Stocktip.com is one of the top stock rating websites with millions of paying and nonpaying subscribers. Any change in its stock rating is supported by diligent research and has a material impact on the stock price. As part of the service, Stocktip always emails changes in stock rating to their paying subscribers before posting it on their website. Is this a violation of Standard 11(A)? No, paying subscribers have the right to receive the information first. Yes, the rating change is material information because it has a significant impact on the stock price. Yes, Stocktip must treat all the subscribers fairly