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Rangen bought U.S. Treasury strips and over-the-counter stocks that did not produce income as sought by his clients. Rangen claimed that his actions were justified because his firm’s research department recommended the purchase of the Treasury strips. Also, he claimed the stocks that he bought were all in the top-rated categories of his firm’s research division. Which of the following statements best describes why Rangen’s arguments, in which he attempted to shift the blame to his employer, did NOT meet the requirements of the Code and Standards? A. Rangen's duty was to make only recommendations that were in the best interests of his clients. B. Rangen's duty was to make only recommendations that were in the best interests of his clients. C. Rangen's duty was to make only recommendations that were in the best interests of his clients. |