Which of the following was NOT identified as a requirement for an investment adviser that intends to allocate an investment opportunity to a proprietary account in a block trade with other client accounts?
1) The adviser's compliance officer must approve the order in writing.
2) The adviser will prepare, prior to entering the order, a written allocation statement.
3) Transaction costs for the order will be shared pro-rata based on each client's participation in the transaction.
4) The adviser will identify that the block trade is consistent with its duty to achieve best execution.