Question 1 John Fields is a portfolio manager in charge of several mutual funds. In one fund, he had accumulated a position in several thinly traded stocks that were not performing well. Field found that by trading the stocks between the funds he could increase the closing price and volume. Fields hopes that the apparent increased liquidity will make it easier to exit the positions and minimize his losses. Did Fields violate the Standards of Professional Conduct with respect to market manipulation? a) No. b) Yes, because trading the same stock between funds is always a violation. c) Yes, because the transactions were intended to alter the price and volume data.