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Executing trades without prior written discretionary authority constitutes unauthorized trading. Supervisors must enforce strict compliance with authorization procedures, monitor order tickets, and investigate discrepancies. Unauthorized trading can result in fines, arbitration, and termination of associated persons. Supervisors bear responsibility for detection and prevention.

Margin accounts require signed margin agreements per Regulation T and FINRA Rule 2264. Supervisors verify documentation.

Principals must maintain current WSPs reflecting regulatory changes. Supervisors enforce implementation across the firm.