Under the Securities Exchange Act of 1934, which of the following would NOT be considered associated with XYZ Corp., a broker/dealer?
A) Brian, an XYZ vice president.
B) Robust, Inc., a tiny fraction of whose stock XYZ has purchased for its own account.
C) Paula, who is on XYZ's board of directors but who has no other connection with the firm.
D) Arvin, one of XYZ's agents.
Answer: B) Robust, Inc., a tiny fraction of whose stock XYZ has purchased for its own account.