A CRPC designee who is also a registered investment adviser receives soft dollar benefits (research services) from a broker in exchange for directing client trades to that broker. What must the advisor do?
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A
Discontinue the arrangement immediately as soft dollars are prohibited
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B
Disclose the soft dollar arrangement to clients so they can evaluate the potential conflict
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C
Accept the arrangement without disclosure if the research benefits clients indirectly
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D
Report the arrangement only to the SEC, not to individual clients