A sophisticated client executes frequent trades in a non-discretionary account and insists they are acting on their own. The agent executes all orders. Under the USA, which scenario is LEAST likely to result in a churning violation?

1. AThe agent encourages the trading to generate commissions
2. BThe agent warns the client about excessive trading, but executes the orders anyway✓ Correct answer
3. CThe agent initiates and recommends most trades
4. DThe agent prearranges to split commissions with the client

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