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The Other Four-Letter Word

The Other Four-Letter Word

They were moving fast now. The Smoking Woman seemed determined to cram in as much as possible in the last two hours of class.

“Should you ever accept a loan from a client? NO! And for the most part you’re never allowed to do it, except in those cases where you are. Got that? Loaning to and from clients is generally prohibited except when:

  • The client is a broker dealer
  • The client is a financial institution that loans money as part of its business 
  • The client is an affiliate

So why is ‘loan’ t...

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