
Explanation:
Explanation:
According to CFA Institute Standard VI(C) - Referral Fees, members must disclose to clients and prospective clients:
Analysis of Jacobs' actions:
Analysis of Amari's actions:
Conclusion: Both Jacobs and Amari violated Standard VI(C) - Referral Fees, but for different reasons:
Therefore, both have violated the Standards.
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David Jacobs, CFA, and Megan Amari, CFA, work for Global Investment Inc. and receive fees for client referrals. Prior to signing service agreements with clients, Jacobs informs his clients about the referral fee arrangement without providing an estimated dollar value. Amari discloses all details of the arrangement, including the estimated dollar value, to her clients only after the service agreements are signed. Who has violated the Standards?
A
Amari only
B
Jacobs only
C
Both Amari and Jacobs