An Approved Person (AP) is the common-law partner of a client. The AP wants to borrow $5,000 from this client to cover an unexpected medical expense. Which of the following statements is true?

Question

Accepted Answer

Even if the client is a 'Related Person' (which includes common-law partners under the Income Tax Act), Rule 2.1.5 requires prior written approval from the Member.

An Approved Person (AP) is the common-law partner of a client. The AP wants to borrow $5,000 from this client to cover an unexpected medical expense. Which of the following statements is true?

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