Which TWO of the following factors influence the length of the research blackout period?
I. Whether the analyst's opinion if favorable or unfavorable
II. Whether the participant is a manager or co-manager
III. Whether the issue is an IPO or follow-on
IV. Whether the securities are traded on an exchange or OTC
A) I & III
B) I & IV
C) II & III
D) II & IV
Answer: C