Laws & RegulationsPregunta 84 de 110
Under the Uniform Securities Act, which of the following is generally considered a prohibited practice for an investment adviser?
a.Disclosing all material conflicts of interest to clients
b.Maintaining accurate books and records
c.Delivering the brochure to clients before or at the time of entering an advisory contract
d.Borrowing money from a client who is not a lending institution
Explicación
Borrowing money or securities from a client who is not a bank, broker-dealer, or other financial institution in the business of lending is a prohibited practice because it creates a serious conflict of interest. Disclosing conflicts, keeping accurate records, and delivering the brochure are all required, proper conduct. Prohibited practices are heavily tested on the exam.
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