Which best describes the purpose of SROs’ ethical standards?

1. ATo maximize profits for SROs
2. BTo ensure fair, honest, and equitable practices in the securities industry✓ Correct answer
3. CTo set federal tax policy
4. DTo promote specific investment products

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• What can an SRO do to ensure compliance among its members?
• How does an SRO propose a new rule?
• After exhausting the SRO's internal appeals, a firm can appeal disciplinary decisions to:
• Which SRO is most closely associated with regulating over-the-counter (OTC) markets?