Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

After a client signs a discretionary account agreement, his registered representative decides to buy some stock for the client on margin. The registered representative should: (A) Obtain verbal permission from the client (B) Have the client sign a margin agreement (C) Have the client sign a margin agreement and get supervisory approval before the first margin trade. (D) Have the client sign a margin agreement and get supervisory approval within three business days of the first trade.

Sagot :

ayfat23

Answer:

C] Have the client sign a margin agreement and get supervisory approval before the first margin trade.

Explanation:

Discretionary account can be regarded as an investment account which gives enablement to an authorized broker to make buying and selling of securities even when the clients doesn't has consent about it for each trade. Though there must be a discretionary disclosure signed by client with the broker which will serves as documentation of the client's consent.

In a scenerio whereby After a client signs a discretionary account agreement, his registered representative decides to buy some stock for the client on margin. In this case, The registered representative should Have the client sign a margin agreement and get supervisory approval before the first margin trade.

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.