Springfield corporation employee profit-sharing plan

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Question

One of the discretionary accounts managed by Lisa Simpson, CFA, is Springfield Corporation's employee profit-sharing plan. Mr Burns, Springfield's CEO, recently asked Lisa to vote the shares in the firm's profit-sharing plan in favour of the company-nominated directors and against the directors sponsored by a dissident shareholder group. Lisa investigates the proxy-fight issue, concludes that management's directors are better for the long-run performance of Springfield Corporation than those recommended by the dissident group, and votes accordingly. According to the Standards, Lisa most likely: Group of answer choices did not violate the Standards in voting for the current management because she determined that it was in the best interests of the firm after investigating the issue. violated the Standards in voting the shares in the manner requested by Mr Burns. does not have responsibility for proxy voting. did not violate the Standards in following whatever was requested by Mr Burns because the voting of proxies is not an important responsibility of a profit-sharing plan investment manager.

Reference no: EM134045482

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