An investment adviser representative (iar) personally owns 100,000 shares of def stock. he believes that the stock is a good long term investment, but that the price will remain flat for the next 18 months. which statement is true?

a. the adviser is prohibited from recommending the stock to his or her customers
b. the adviser must disclose his or her personal ownership position to the customer
c. the adviser must sell that position to his or her customers
d. the adviser's interests are aligned with those of the customer and the adviser can make the recommendation without taking any additional action