Jerry Srruth, CFA, works as a portfolio manager for a large investment management firm and manages investment portfolios for high-net-worth individual clients. Smith relies on high-quality investment research that is consistently sound from one of his favorite brokerage firms, Stafford Securities. In return Smith pays Stafford a higher than average commission. Additionally, Smith uses Cannan Securities, another brokerage firm for trade execution only for a particular client at that client's direction. Cannan Securities charges the highest commission of all of the brokerages Smith currently uses. Has Smith most likely violated the Standards of Professional Conduct（）
A. No.
B. Yes, by using Stafford Securities with higher than average commission.
C. Yes, by using Cannan Securities with the highest commission.
