可以用中文解释一下题目和答案吗

问题如下：

During a high-level management meeting, Sage Wealth Advisors' compliance officer briefs the team on updated company policies. when it comes to validating portfolio information presented to clients, the firm relies on its custodian rather than the auditor. the firm-wide risk management process is designed to tackle market - related risks comprehensively.

while the business continuity plan does have contingency measures in place for crucial functions like portfolio management and trading, it falls short in areas such as marketing and staff recruitment.

For Sage Wealth Advisors' policies on AMC for risk, compliance & support, which is wrong?

选项：

A.client reporting.

B.risk management.

C.business continuity.

解释：

B is correct. The Asset Manager Code (AMC) outlines a comprehensive firmwide risk management procedure that encompasses both market risks as well as non-market risks. However, Sage Wealth Advisors existing policies only take into account risks that are related to the market.

When it comes to client reports, the custodian can serve as an appropriate third-party entity for verification purposes. Moreover, the business continuity plans formulated by the company do cover the essential functions.