malbec

2a is more of a confirmation; I’m almost positive this is true. In the vignette after the Soft Dollar text in CFAI books, the client wants to use some minority brokers to support the community. The PM says well I can’t guarantee you best execution but I will try and you need to give me a signed statement saying I have a duty to do this.
2b I’m unsure about. I know you don’t always have to get best execution although you should seek it, but I’m unsure if you have to disclose it each team as you do for say non-ERISA principal trades.