NO.PZ2023021602000083
问题如下：
Anna Saar, CFA, is the head of compliance for Tranne Advisory Services, a regional financial services group including asset management, investment banking, and stock brokerage entities. Reviewing a draft client investment management agreement for the asset management unit, she is concerned that the relationships between the firm's various business units are not properly disclosed. To prevent violating CFA Institute Standard VI(A)-Disclosure of Conflicts, which of the following should least likely be addressed in the investment management agreement?
选项：
A.The group subsidizes staff loans for share purchases. B.Management fees are frequently loss leaders for brokerage. C.Asset managers are likely to support corporate finance deals.解释：
A is correct because the group subsidizing staff loans for the purchase of shares is not a conflict of interest for clients because it is a funding mechanism and does not interfere with objectivity when rendering investment advice or taking investment action. However, asset managers subsidizing their asset management fees and supporting the investment banking corporate finance deals should be disclosed per Standard VI(A)-Conflicts of Interest and Standard VI(B)-Priority of Transactions, respectively.B is incorrect because asset managers subsidizing their asset management fees on the basis that they will use the group's brokerage services is a cross-departmental conflict of interest and should be disclosed in the section on cross-departmental conflicts.C is incorrect because the fact that the asset managers will support the investment banking corporate finance deals is a cross-departmental conflict of interest and should be disclosed in the section on cross-departmental conflicts.1
