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Tony Calaveccio, CFA, is the manager of the TrustCo Small Cap Venture Fund in Toronto. He places trades for the fund with Canadian Brokerage. Canadian provides Calaveccio with soft dollars to purchase research. He uses these soft dollars to get research reports from Canadian's research department regarding the issues currently held in the small cap portfolio, and also for firms he is contemplating adding to the portfolio. By using soft dollars in this manner, Calaveccio has: A. violated the Code and Standards by acquiring research on currently held issues and by acquiring research on issues contemplated for purchase. B. not violated the Code and Standards. C. violated the Code and Standards by acquiring research on issues contemplated for purchase but not by acquiring research on currently held issues. |