Answer: Yes, by declining the calls of standard fee-paying clients and asking her associate to reply

## Explanation Wynn's actions **violate** the Standard related to fair dealing because: - **CFA Institute Standard III(B) - Fair Dealing** requires that members must deal fairly and objectively with all clients when taking investment action, making investment recommendations, or engaging in other professional activities - **Violation analysis**: - **Initial email distribution**: Sending the research report to all clients simultaneously is appropriate and demonstrates fair dealing - **Calling premium fee-paying clients**: This action does NOT violate fair dealing standards because: - Different service levels based on fee structures are permissible - Premium clients paying higher fees may reasonably expect additional services - The initial recommendation was distributed to all clients at the same time - **Declining calls from standard fee-paying clients**: This action DOES violate fair dealing because: - All clients who receive investment recommendations should have reasonable access to the analyst - Delegating calls to an associate may be acceptable, but refusing to speak with certain clients while providing personal service to others creates an unfair advantage - The standard requires that all clients be treated fairly in terms of access to investment professionals - **Key principle**: While different service levels based on fee structures are acceptable, all clients must be treated fairly and have reasonable access to investment professionals for questions about recommendations they receive - **Better approach**: Wynn could have: - Taken calls from all clients herself - Had her associate handle calls for all clients consistently - Established clear communication protocols that apply equally to all client categories **Correct Answer: C** - Yes, by declining the calls of standard fee-paying clients and asking her associate to reply

Author: LeetQuiz Editorial Team