When distributing a third party research report to its clients, an investment adviser (IA) must:

D.

Explanation:

When distributing a third party research report to its clients, an investment adviser (IA) must disclose that there was a third party involved that prepared the report. This is because disclosing the reports origin is absolutely necessary and required by law when the person that prepared the report is anyone but the investment adviser. Mostly due to the fact that the clients place their trust in the investment adviser and are trusting him/her with their money.