A registered agent executes a trade in a client account after receiving verbal instructions from the client to 'do whatever you think is best.' The client does not specify the security, amount, or timing. Under the USA, this is:

1. APermitted as long as the agent documents the conversation
2. BProhibited because written discretionary authority is required✓ Correct answer
3. CAcceptable if the trade results in a profit
4. DPermitted if the client is an institutional investor

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