LISA HAJAK, CFA, SPECIALIZED IN RESEARCH ON REAL ESTATE COMPANIES...

4. Lisa Hajak, CFA, specialized in research on real estate companies at Cornerstone Bank (CB) for the past twenty years. Hajak recently started her own investment research firm, Hajak Advisory (HA). One of her former clients at CB asks Hajak to update a research report she wrote on a real estate company,when she was at CB. Hajak updates the report, which she had copied to her personal computer, without the bank’s knowledge, and replaces references to the bank with her new firm, HA, Hajak incorporates the conclusions of a real estate study conducted by the Realtors Association that appeared in the Wall Street Journal. She references the Journal as her source in her report. She provides the revision free of charge along with a request for the bank’s client to become a client of her firm. Concerning the reissued research report, Hajak least likely violated the CFA Institute Standards of Professional Conduct because she: A. solicited the bank’s client. B. did not obtain consent to use the bank report. C. must cite the actual source of the real estate study.