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Question 67/80
Under which of the following circumstances, if any, is it permissible for an individual without a Power of Attorney (POA) to sign a customer's name on their behalf?
Correct Answer: D
Step by Step Explanation:
* Prohibition on Signing Customer Names: It is never permissible to sign a customer's name without written authorization (POA) due to legal and ethical concerns. Unauthorized signing constitutes forgery and violates FINRA rules.
* Incorrect Options:
* A: Firm principal approval does not override this prohibition.
* B: Verbal authorization is insufficient.
* C: Discretionary authority does not allow unauthorized signing.
References:
* FINRA Rule 4512 (Customer Account Information): FINRA Rule 4512.
* Prohibition on Signing Customer Names: It is never permissible to sign a customer's name without written authorization (POA) due to legal and ethical concerns. Unauthorized signing constitutes forgery and violates FINRA rules.
* Incorrect Options:
* A: Firm principal approval does not override this prohibition.
* B: Verbal authorization is insufficient.
* C: Discretionary authority does not allow unauthorized signing.
References:
* FINRA Rule 4512 (Customer Account Information): FINRA Rule 4512.
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