Serena Zaltz is a portfolio manager at Katalina Investments, a small boutique in Connecticut. She currently manages 3 cl

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Serena Zaltz is a portfolio manager at Katalina Investments, a small boutique in Connecticut. She currently manages 3 client accounts, one of which belongs toJohn Hersham. John recently told Serena that if his portfolio beat the S&P500 by 75 basis points over the next 3 months, he would give 10 basis points to her as a"superior performance reward." Serena told him this was unnecessary but John insisted that such an arrangement be made on a handshake. Serena subsequently spoke to her supervisor, Helena, about it and Helena did not object to the arrangement. Then, Serena has:

A. has violated Standard IV (A.3) - Independence and Objectivity.
B. has violated Standard III (D) - Disclosure of Additional Compensation Arrangements.
C. not violated any code of conduct.
D. has violated Standard IV (B.8) - Disclosure of Referral Fees.