An Investment Representative (IR) in their first 90 days of registration wants to recommend a leveraged mutual fund purchase to a client. What is the correct sequence of regulatory actions?

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Accepted Answer

Correct. This follows the mandatory gatekeeper steps: the account must be pre-approved before any trades, and since it is a recommended leveraged trade, it requires pre-execution approval by the BM.

An Investment Representative (IR) in their first 90 days of registration wants to recommend a leveraged mutual fund purchase to a client. What is the correct sequence of regulatory actions?

Discussion