You, a financial analyst for UNS Advisory, is told by the investor relations representative for Thunderbird, a major aircraft parts manufacturer, that they are in the final stages of building a new fuel efficient jet engine. This information was announced by Thunderbird at the recent analyst conference briefing. You use this information along with other information you obtained from the company and distributed to the public in a research report that includes a buy recommendation for Thunderbird shares.

Which of the following statements is CORRECT:

Select one:

a. You violated the Code and Standards because you used material nonpublic information.

b. You violated the Code and Standards because you have a material misrepresentation in your report.

c. Your actions did not violate the Code and Standards

d. You violated the Code and Standards because you failed to separate opinion from fact.