An institutional portfolio manager (PM) at an Investment Dealer also operates a small landscape design business. An executive at a pension fund that is a client of the firm hires the PM to design a private garden. Under what condition can the PM accept payment?

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Under Rule 3115(2)(i)(a)(II), compensation is not considered prohibited consideration if it is received for services provided through an approved OBA.

An institutional portfolio manager (PM) at an Investment Dealer also operates a small landscape design business. An executive at a pension fund that is a client of the firm hires the PM to design a private garden. Under what condition can the PM accept payment?

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