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Question:

According to the Standard related to loyalty, prudence, and care, which of the following statements regarding the voting of proxies on client holdings is least accurate?

A An investment management firm should vote all proxies on client holdings unless the client reserves that right.
Explaination

Standard 111(A) Loyalty, Prudence, and Care does not require the voting of all proxies. A cost-benefit analysis may support the conclusion that the voting of all proxies is not beneficial to the client in light of the time and effort required. Voting on non-routine issues that have a material impact is required.