Ron Brenner, CFA, manages portfolios for individuals. One of his clients, John Perlman, offers Brenner several inducements above those provided by his employer to motivate superior future performance in managing his portfolio. Brenner notifies his manager via e-mail about the terms of this offer, and his employer grants permission. According to the Standard on additional compensation arrangements, Brenner:

Brenner's actions comply with the conditions specified in Standard IV Additional Compensation Arrangements. He notified his employer in writing (e-mail is acceptable) of the terms and conditions of additional compensation arrangement and received permission from his employer. Loyalties to other clients may be affected, but it is the employer's duty to determine this. Nothing in the Standard specifies that "all parties involved" includes other clients.