Laws & RegulationsPregunta 27 de 100
An investment adviser exercises discretion in a client account. Under the Uniform Securities Act, this generally requires:
a.Prior written discretionary authority from the client
b.Nothing beyond a verbal understanding
c.Only the Administrator's approval
d.A performance guarantee
Explicación
Exercising discretion in a client's account requires written discretionary authorization from the client. For investment advisers, oral discretion may be permitted for a limited initial period regarding price and time only, but full discretion needs written authority. This protects clients from unauthorized transactions.
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