Jarrett Rogers, CFA, recommends investment advisers to high net worth individuals. Investment advisers pay Rogers a portion of their investment management fees as compensation for client referrals. When a client inquires with Rogers about his criteria for recommending managers, Rogers indicates that managers are selected based only on historical investment performance versus a universe of comparable peer investment managers, but he does not mention the compensation paid by the investment advisers. Rogers has most likely violated the Standard concerning:

A.Referral fees.

B.misrepresentation.

C.Fair dealing.