Zanuatu, an island nation, does not have regulations precluding the use of nonpublic information. Carlos Romero has a friend and fellow CFA charterholder there with whom he has shared nonpublic information regarding firms outside of his industry. The information concerns several firms' internal earnings and cash flow projections. The friend may: Question 29Answer a. trade on the information under the laws of Zanuatu, which govern her behavior. b. trade on the information under CFA Institute Standards since the firms concerned are outside of Romero's industry. c. not trade on the information under CFA Institute Standards, which govern her behavior