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An investmetn adviser will always be considered to have taken custody if an adviser: is the trustee for the cleint in a trust account.
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An investmetn adviser will always be considered to have taken custody if an adviser: is the trustee for the cleint in a trust account.

User Ronenmiller
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1 Answer

1 vote

Answer:

true (A. is the trustee for the client in a trust account)

Step-by-step explanation:

Based on the information provided within the question it can be said that this statement is completely true. This is mainly due to the fact that a trustee can directly deduct management fees from the customer funds. Therefore if the investment adviser is the trustee for the client he is able to have custody over the account and make these deductions.

User Christian V
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