When is it acceptable under NASAA rules for an IAR to exercise discretionary authority over the account of an investor?

Business

1 answer:

Fofino [41]4 years ago

3 0

Answer:

B) If the IAR receives authority via telephone and this is followed by written authority within 10 days, the IAR may exercise discretion over the account.

Explanation:

The members of the North American Securities Administrators Association (NASAA) must follow their Model Rule which allows IAR the use of discretionary authority with verbal authorization (in this case a telephone call), but the verbal authorization must be confirmed by a written authorization within 10 days.

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