you (an investment manager) least likely breach your duty to your client, if you A) use client brokerage to purchase services that are used in the investment decision process. B) habitually vote with management on proxies. C) … D) …
I would say C or D, but I will go for A.
Why not B? (or C/D)
not c or d because its not valid. not B, because if you vote with board of directors blindly, you might end up like yahoo which is not good in shareholder’s interest. common sense.
this is a made up question, I can tell. From the 2 above, A is the answer. you can use soft dollars for client-helping initiatives