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21 Cards in this Set
- Front
- Back
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IA's and IAR's may not borrow money/securities from a client unless the client is |
Financial institution Affiliate of the IA Broker dealer |
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IA's and IAR's may not lend money to a client unless |
The IA is a financial institution that normally loans money
Client is affiliate of the IA |
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An agent can share in the profits and losses of a clients account if |
Sharing arrangement is approved in writing by the client and broker dealer
Sharing is proportionate based on the net worth of the account |
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Painting the tape |
Reps buying and selling securities among themselves in order to create false trading volume
Attracts customers |
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Selling away |
Trading without the knowledge of his BD |
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If advisers have custody they must maintain the following records |
Journals Separate client ledgers Confirmations |
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If advisers have custody they must maintain the following records |
Journals Separate client ledgers Confirmations |
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Advisers (who has discretion or not) must maintain the following client records |
Powers granted by clients Disclosure statements Complaints |
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If advisers have custody they must maintain the following records |
Journals Separate client ledgers Confirmations |
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Advisers (who has discretion or not) must maintain the following client records |
Powers granted by clients Disclosure statements Complaints |
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When an investment adviser buys of sells securities for its own account at its own risk, it has executed a ______ trade |
Principle trade |
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If advisers have custody they must maintain the following records |
Journals Separate client ledgers Confirmations |
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Advisers (who has discretion or not) must maintain the following client records |
Powers granted by clients Disclosure statements Complaints |
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When an investment adviser buys of sells securities for its own account at its own risk, it has executed a ______ trade |
Principle trade |
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When an investment adviser acts as a broker for its client and for another person on the other side of the transaction they are engaging in an _____ trade |
Agency cross trade |
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If advisers have custody they must maintain the following records |
Journals Separate client ledgers Confirmations |
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Advisers (who has discretion or not) must maintain the following client records |
Powers granted by clients Disclosure statements Complaints |
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When an investment adviser buys of sells securities for its own account at its own risk, it has executed a ______ trade |
Principle trade |
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When an investment adviser acts as a broker for its client and for another person on the other side of the transaction they are engaging in an _____ trade |
Agency cross trade |
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Agency cross trades must have one side of the trade be _____ |
Unsolicited |
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Written disclosure to clients regarding the amount of agency cross trades must be submitted at least _________ |
Annually |
