Let’s say you doing research into a company (combination of interviews with employees and research from public info). The interviews have generated non-material, non-public info, and your cumulative research points to a strong buy.
Nothing wrong here, but let’s say as you walk out, the CEO gives you a piece of material non-public info…
Can you still buy their stock?
Of course you can.
And you’ll violate the Standards if you do.
CEOs are handing out material nonpublic information to analysts all the time. Especially in CFA Institute’s vignettes. Almost gleefully. I don’t understand their motivation.
Thanks, and what if you’re a research analyst issuing a report. Would you simply not include the new information in the report, and issue it to your clients just as before?
I’m glad to see people considering ethics on this Good Friday!!! 
Do the Standards recommend doing something _ BEFORE _ issuing your report??? 
You mean like planning your escape?
Those darned, pesky extradition treaties make planning difficult, don’t they??? 