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- 2011-5-23
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Ethics Q - Disclosing confidential client info to CFAI
According to the SOPH, which of the following activities is least likely to breach a member's duty to a client?
A. Failing to disclose all forms of manager compensation.
B. Using soft dollar arrangements to pay firm management expenses.
C. Disclosing confidential client information to the CFA Institute Professional Conduct Program.
According to the solutions, the answer is C. "Members should consider the Professional Conduct Program as an extension of themselves when requested to provide information about a client in support of a PCP investigation into their own conduct."
However, consider the following question:
According to the SOPH, a member who is an investment manager is least likely to breach his duty to clients by:
A. Disclosing confidential client information to the CFA Institute Professional Conduct Program.
B. Using client-brokerage to purchase goods or services that are used in the investment decision-making process.
C. Consistently supporting management's recommendations by voting with management on proxies related to non-routine governance issues.
Given the answer to the first question above, I expected "A" to not be a breach of a member's duty to clients. However, the answer they give is "B". They explain why "B" is not a breach of duty to clients, but do not mention anything about why the answer is not "A". Is this a mistake? Do you think "A" would be an acceptable answer here?
Thanks! |
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发表于 2011-7-11 18:42
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