Under the abstain/disclose rule, those who have a __________ duty of trust and confidence and encounter information that is nonpublic and material have a duty to abstain from trading or to disclose the information publicly.

Question

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The abstain/disclose rule applies to individuals who have a fiduciary duty, which is a legal or ethical relationship of trust with another party. This rule requires them to either abstain from trading on material nonpublic information or disclose it before trading.

Under the Abstain/disclose Rule, Those Who Have a __________ Duty