A representative asks a wealthy client for a personal loan to cover his own expenses. Under FINRA rules, this is:

a.Generally prohibited unless it meets narrow conditions and the firm's written procedures permit and approve it
b.Always allowed between a rep and any client
c.Allowed only if the loan is under $100
d.Required to be reported to the SEC in advance

Giải thích

Borrowing from (or lending to) customers is generally prohibited unless the arrangement fits narrow exceptions (such as an immediate family member or a lending-business relationship) and the firm's written procedures permit it, usually with notice and approval. It presents a serious conflict of interest.

Trích dẫn luật: FINRA Rule 3240

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