Marion was a CFP® professional who was a general partner of a hedge fund. She placed most of her clients in that hedge fund without telling them of her ownership in it. When results seemed to be disappointing, she sold her ownership and personal holdings in the fund and thereafter told her clients to get out. What SEC and CFP® violations were there? What would you recommend she do to try to rectify the situation?
Marion was a CFP® professional who was a general partner of a hedge fund. She placed most of her clients in that hedge fund without telling them of her ownership in it. When results seemed to be disappointing, she sold her ownership and personal holdings in the fund and thereafter told her clients to get out. What SEC and CFP® violations were there? What would you recommend she do to try to rectify the situation?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marion was a CFP® professional who was a general partner of a hedge fund. She placed most of her clients in that hedge fund without telling them of her ownership in it. When results seemed to be disappointing, she sold her ownership and personal holdings in the fund and thereafter told her clients to get out. What SEC and CFP® violations were there? What would you recommend she do to try to rectify the situation?
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