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Varvara68 [4.7K]
3 years ago
15

The purchase and subsequent sale of a securities position in a customer account solely to generate commissions is____________.

Computers and Technology
1 answer:
Citrus2011 [14]3 years ago
5 0

Answer:

Churning

Explanation:

Churning is termed as an act of a broker conducting immoderate trading in the account of client solely to generate commissions. It is an illegal and deceptive practice. It violates security laws. The purchase and subsequent sale of a securities that are little or insignificant to meet the investment goals of client can be the evidence of churning. Consequently it causes considerable losses in client's account or can produce a tax liability.

Churning occurs due to over trading by a broker to generate commissions by buying and selling stocks excessively on the behalf of investor. This often happens when broker has permissive authority over client's account.

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