CASE #1 (4 Marks) Sam, a dealing representative with Smith Financial, has a cottage in Haliburton, Ontario. John, one of Sam's wealthier clients, mentioned at their last meeting that he wanted to take a quiet, relaxing vacation this summer with his family, Sam usually rents out the cottage in the summer when he is not using it. However, hoping to get some business referrals from John, Sam offers John use of his cottage, at a 25% discount from the usual rental cost, for 2 weeks in August. John is thrilled with Sam's offer and accepts it. Over the next two months Sam received referral business from several of John's business colleagues. The total amount of fees earned by Sam over these two months from the new referrals far exceeded the rent discount to John Sam did not see the need to inform his employer, the mutual fund dealer, about this arrangement with John, since the cottage is John's personal property. Also, for liability reasons, ownership of the cottage is actual in Sam's wife name, not Sany's. Required: Has Sam violated any MFDA rule(s)? Explain your response please CASE #1 (4 Marks) Sam, a dealing representative with Smith Financial, has a cottage in Haliburton, Ontario. John, one of Sam's wealthier clients, mentioned at their last meeting that he wanted to take a quiet, relaxing vacation this summer with his family, Sam usually rents out the cottage in the summer when he is not using it. However, hoping to get some business referrals from John, Sam offers John use of his cottage, at a 25% discount from the usual rental cost, for 2 weeks in August. John is thrilled with Sam's offer and accepts it. Over the next two months Sam received referral business from several of John's business colleagues. The total amount of fees earned by Sam over these two months from the new referrals far exceeded the rent discount to John Sam did not see the need to inform his employer, the mutual fund dealer, about this arrangement with John, since the cottage is John's personal property. Also, for liability reasons, ownership of the cottage is actual in Sam's wife name, not Sany's. Required: Has Sam violated any MFDA rule(s)? Explain your response please