Question

The antifraud provisions of the Investment Advisers Act of 1940:

A) do not apply to conduct directly related to actual transactions involving the purchase or sale of securities.
B) apply to all conduct related to the purchase and sale of securities.
C) do not apply to activity related to prospective or actual advisory clients.
D) prohibit any deceitful practice or course of business with respect to the purchase and sale of securities.

Answer 1

The antifraud provisions of the Investment Advisers Act of 1940 apply to all conduct related to the purchase and sale of securities, prohibiting any deceitful practice or course of business.

Step-by-step explanation:

The antifraud provisions of the Investment Advisers Act of 1940 apply to all conduct related to the purchase and sale of securities. These provisions prohibit any deceitful practice or course of business with respect to the purchase and sale of securities. They do not apply solely to conduct directly related to actual transactions involving the purchase or sale of securities, nor do they only apply to activity related to prospective or actual advisory clients.