High School
A registered representative services the brokerage account of her father-in-law at her broker-dealer. The father-in-law has asked the registered representative to act as the trustee in a trust account for her spouse and children. The following assets are being donated by the father-in-law into the trust:Office Building: $15,500,000Construction Company: $20,000,000Construction Equipment: $ 2,000,000The registered representative has agreed not to charge a trustee's fee to do this. Does she have to get permission of her broker-dealer to act as trustee?A. No, because it is a family relationshipB. No, because the trust does not hold securitiesC. No, because she is not being compensated to be the trusteeD. Yes, because this is an outside business activity