A New Mexico broker asks about a broker mixes trust funds with unrelated brokerage or personal funds. What is the best answer?
Correct Answer
B) Commingling of trust or custodial account funds is not permitted except for narrow rule-recognized items such as limited bank-charge funds or disclosed broker funds
New Mexico trust-account rules prohibit commingling and improper personal or operating use of trust funds. Source basis: 16.61.23 NMAC, Trust Accounts: trust account designation, records, deposits, disbursements, and commingling; checked 2026-04-30.
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