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A client refuses to disclose certain financial information needed for a full analysis but still wants a product. What does the General Code require the representative to do?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Proceed only after alerting the client that the limited information may affect the appropriateness of the advice.Correct
- b) Refuse all service permanently and report the client to the FSCA.
- c) Fabricate the missing information to complete the analysis.
- d) Guarantee the product is suitable despite the missing information.
Why this is the answer
Where a client declines to provide all relevant information, the representative may still proceed but must warn the client that the incompleteness may limit the appropriateness of the advice. Inventing data, or guaranteeing suitability, would breach the Code.
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