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(a) No person associated with a member ("employer member") shall, without the prior written consent of the member, open or otherwise establish at a member other than the employer member ("executing member"), or at any other financial institution, any account in which securities transactions can be effected and in which the associated person has a beneficial interest. (b) Any associated person ...
You are not permitted to borrow or lend money between registered representatives and customers of the firm. There are a few conditions under which an arrangement could be permissible if specific conditions are met, under FINRA Rule 3240. Customer Complaints. Customers have a right to complain about the handling of their accounts.
Pursuant to FINRA Rule 2264 (Margin Disclosure Statement), no member shall open a margin account, as specified in Regulation T, for or on behalf of a non-institutional customer, unless, prior to or at the time of opening the account, the member has furnished to the customer, individually, in paper or electronic form, and in a separate document ...
Due to the coronavirus pandemic (COVID-19), FINRA is providing temporary relief for member firms from rules and requirements in the Frequently Asked Questions below. The relief provided does not extend beyond the identified rules and requirements. FINRA will continue to monitor the situation to determine whether additional guidance and relief may be appropriate. As coronavirus-related risks ...
Apr 9, 2021 · April 09, 2021. Summary With the recent increase in the number of customers seeking to open brokerage accounts and trade options, FINRA reminds members of the requirements for determining whether to approve a customer to trade options. Regardless of whether the account is self-directed or options are being recommended, members must perform due ...
Registration. For you to become registered as a securities professional, your firm must file a Uniform Application for Securities Industry Registration or Transfer, commonly referred to as the Form U4, via the CRD system. The Form U4 collects administrative information ( e.g., residential history, employment address, other business activities ...
Firms must file a Form U5 within 30 days and provide the individual with a copy for their personal records. The form indicates the employment end date and the reason. Some individuals may continue working for the firm in a non-registered capacity after the submission of a Form U5. Renew an Individual's Registration.
