4.3 Client-directed brokerage arrangement (CDBA) CDBA refers to an arrangement whereby a client instructs the IM to allocate trades associated with its account to a specific broker or a list of Brokers so as to receive the usual execution services and Receive commission rebates Participate in commission recapture program Support minority brokers 1. Is CDBA acceptable to the IM? 2. Will the arrangement violate the duty and responsibilities of the IM to their client? 4.3 Client-directed brokerage arrangement (CDBA) CDBA refers to an arrangement whereby a client instructs the IM to allocate trades associated with its account to a specific broker or a list of Brokers so as to receive the usual execution services and Receive commission rebates Participate in commission recapture program Support minority brokers 1. Is CDBA acceptable to the IM? 2. Will the arrangement violate the duty and responsibilities of the IM to their client