没有理解题目

问题如下：

As the compliance leader at Tranne Advisory Services, a multi-faceted financial group encompassing asset management, investment banking, and brokerage, Anna Saar, CFA, scrutinizes a new client investment management contract for the asset management department. She notes a lack of clarity in outlining the interrelations among the company's divisions. To align with CFA Institute Standard VI(A)–Disclosure of Conflicts, which element is least likely necessary to be included in the contract?

选项：

A.Subsidization of employee share purchase loans by the group. B.Utilization of management fees as incentives for brokerage services. C.The propensity of asset managers to endorse corporate finance transactions.

解释：

Option A is correct. It is least necessary to include the subsidization of employee share purchase loans in the investment management contract. This practice does not constitute a client conflict of interest, serving merely as an internal financing mechanism without influencing the impartiality in providing investment advice or making investment decisions. Contrastingly, the subsidization of management fees for brokerage services and the likelihood of asset managers backing corporate finance activities necessitate disclosure under Standard VI(A)–Conflicts of Interest and Standard VI(B)–Priority of Transactions.