A representative with discretionary authority trades a retiree's account dozens of times a month, generating large commissions but no clear benefit to the customer's stated goals. This is most likely:

Giải thích

Churning is excessive trading in a customer's account, primarily to generate commissions, that is inconsistent with the customer's objectives. It typically requires control over the account (such as discretion) and excessive trading measured against the customer's goals and resources.