When a Broker Makes an Error on Payment Instructions the Model

question 221

Multiple Choice

When a broker makes an error on payment instructions The Model Code recommends that

• A) The broker remains liable for the resulting difference for 3 full business days following the date of the transaction.
• B) The broker remains liable until the error is discovered.
• C) The broker is not liable at all.
• D) The broker's liability should be limited as he is not in a position to directly rectify the situation.

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Definitions:

Disagreements

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