Reading 3: CFA Institute Soft Dollar Standards

LOS a: Define "soft dollar" arrangements and state the general principles of the Soft Dollar Standards

1、An investment advisor with fiduciary responsibilities over client assets is guided by some basic duties and principles concerning “soft dollars.” Which of the following is NOT one of these duties or principles?

A)   To act in the clients' best interest.

B)   The quality of the transaction comes first.

C)   All commissions paid to a broker are the property of the broker.

D)   To disclose to clients conflicts of interest.

The correct answer was C)     

All (client) commissions paid to a broker are the property of the client.

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