Jessie James is an investment manager who manages a number of portfolios for high net worth clients. A large part of his investment management fee is based on commissions earned from trading.Jessie's firm requires him to attain a minimum commission level. In order to meet that performance criterion Jessie engages in excessive trading for his clients. Although all the securities purchased for the clients are appropriate and within the acceptable asset class limits for each portfolio the amount of trading in each account exceeds what is necessary to reach the performance goal.(6 marks)

a)What Standard of ethical behaviour has Jessie violated? (2 marks)

b)Why is this behaviour unethical? (2 marks)

c)What is this practice commonly called? (1 mark)

d)What would you say to your boss if he or she suggested that you do this? (1 mark)