dirk01

Nicely done!
The correct answer is C.
Standard V(A) requires members to have a reasonable and adequate basis for taking investment actions. Overhearing a conversation does not provide adequate basis. It is not improper to use overheard conversations that do not include inside information, nor is it improper to reference another firm’s report to substantiate adequate basis, if the other report is justified.
I agree that I think it would violate Suitability as well. Just because they are discretionary accounts, they still need to be suitable for each client.