Other Prohibited Activities

What this video covers

• Why a half-truth is treated as a material misrepresentation under the Uniform Securities Act (USA) and the North American Securities Administrators Association (NASAA) dishonest practices statement, even when every word is technically accurate
• How selective omission of a material fact changes the meaning of what was said, and why exam scenarios about one-year performance hiding five-year losses are classic gotchas
• What constitutes a fictitious account: fabricating customer details to bypass compliance, suitability requirements, or trading restrictions
• The bona fide standard for publishing bids, asks, or transaction reports, and why false market data is prohibited market manipulation
• Why a broker-dealer may never guarantee a customer against loss in any securities account or transaction, regardless of customer demand or risk tolerance
• Why casual language such as "you can't lose money on this" is an automatic violation even without a formal signed guarantee
• How the NASAA dishonest practices list is explicitly "not inclusive" (not exhaustive), and why unlisted manipulative or deceptive conduct can still be grounds for denial, suspension, or revocation of registration