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Brenda Simone is a money manager and the Blue Streets Pension Fund is one of her clients. The director of the pension fund calls Simone and asks her to use a particular broker so that the fund can obtain some research services with the soft dollars from that broker. Simone believes that the desired broker will provide the same price and execution as the normal broker that Simone uses. Simone does as the client wishes. Simone has: A. not violated the Standards as long as the research provided by the broker will benefit the plan beneficiaries. B. not violated the Standards as long as the research provided by the broker will benefit Blue Streets. C. violated the Standards. |