1.4 Account Opening Requirements

Question 1

Account Opening Requirements

Answer 1

Info (combined FINRA & CIP)
-name, addy, phone, ss number, tax id
-occupation, employer and address
-citizen, date of birth
-investment objective

-marital status: indicates whether spouse might be employed by another BD member firm
(why? if you or your spouse works for another BD, you must get your employers permission to open a brokerage account elsewhere.
Employer may ask for duplicate trade confirmations and statements)

Question 2

Account Opening Requirements

Answer 2

Trusted Contact person (if 65 or older)

Signature needed on new acct opening form - PRINCIPAL accepting the account

Firm Verifies customer identity:
-passport/drivers license

Question 3

After client opens up a new account - you need to send a copy to the client to verify information **WITHIN HOW MANY DAYS?.

after that - how often?

Answer 3

30 days within acct opening

36 months/3years