An Investment Adviser May Not

An investment adviser may not

A) also be registered as a broker-dealer in the state.
B) accept any kind of soft dollar compensation for using certain broker-dealers to execute trades on their clients' accounts.
C) take a position-either long or short-in securities in which any of its clients have a position.
D) recommend a stock to a client that the adviser itself holds without disclosing to the client that the adviser owns the stock.