Tom Wayne, CFA, is the portfolio manager of the Franklin City Employees Pension Plan in Thompson Investments. He recently completed thorough research about a chemical company and decided that the company's stock is significantly overvalued. Wayne places a large sell order for the company's thinly traded stock. Thompson Investments' trading desk takes a whole week to process the order, pulling the stock price to a 26-week low and the trading volume to four times the historic average. Has Wayne most likely violated the Standards of Professional Conduct
A. No.
B. Yes, because he distorted the price-setting mechanism of financial instruments.
C. Yes, because heartificially affected the trading volume significantly.
参考答案：A
解析： Wayne通过详细研究，认为股票是被高估了并大量卖出，并不违反市场操纵条款，判断是否是市场操纵的行为关键看其目的，如果是以误导市场参与者为目的就属于市场操纵的行为。