Whose responsibility is it to determine if a client can pay for the securities they purchase?

Question

Quizplus · Accepted Answer

It is the responsibility of the stockbroker who opens the account for the client to determine if the client can pay for the securities they purchase. This is typically done through a process called a "credit check" where the broker evaluates the client's financial situation and credit history before allowing them to make trades.

Whose Responsibility Is It to Determine If a Client Can