A registered representative solicits a customer to buy a stock, explaining that: "Because the trade settles in 2 business days, if the stock rises, you can sell at any time during this time period and we will send you a check for the net profit. On the other hand, if the stock falls, you can sell at any time during this time period and only have to pay for the net loss." This statement is:

A true

B a misrepresentation of the requirements of Regulation T

C permitted only if the security or transaction is exempt

D permitted only if the security or transaction is non-exempt