Ted Johnson Is Employed by a Large Securities Brokerage Firm

Ted Johnson is employed by a large securities brokerage firm as a junior account executive. The nature of Ted's responsibilities is to manage the portfolio accounts for approximately 25 clients. Ted's relationship with his clients is characterized by which of the following?

A) Ted may be liable to a client for failure to trade securities for the account in certain circumstances if the client experiences a loss as a result.
B) When Ted receives information about a pending stock split for a client's stock, Ted's client is attributed with this knowledge whether he actually receives it or not.
C) Ted must deposit any proceeds from the sale of a client's securities in a separate account identified as the client's.
D) All of the responses are correct.