The following information involves two research analysts at a brokerage firm.
Erik Bagenot, CFA, is preparing a research report on Global Enterprises, Inc. In preparing the report, he uses materials from many sources. For example, he uses factual information published by Standard & Poor's Corporation without acknowledging the source. He also uses excerpts from a research report prepared by another analyst. Bagenot makes only a slight change in wording for these excerpts, but acknowledges the source.
Sally Wain, who is currently enrolled in the CFA program, is preparing a research report, on Manson Telecommunications. She attends a conference in which several investment experts provide their views about the future prospects of this company. Wain cites several quotations from these investment experts in her report without specific reference.
According to the CFA institute Standards of Professional Conduct involving prohibition against plagiarism, which of the following statements is true?

A.Neither Bagenot nor Wain violated the Standards.

B.Both Bagenot and Wain violated the Standards.

C.Wain violated the Standards,but Bagenot did not.