Chapter 14 - IC/CB Arrangements Flashcards
1
Q
Under what conditions does an IB/CB arrangement not subjected to…
A
Where 1) No Record keeping Services are provided nor 2) Custodial Services are provided
2
Q
What is the type of arrangement under which it is solely Execution or Settlement of Trades?
A
Jitney
3
Q
Does CIPF Cover Omnibus Accounts
A
No - because they are not tied to any specific client.
4
Q
Does CIPF Apply to IC/PM Accounts?
A
so long as the accounts are open in client name on the dealers books and records - yes it does.
5
Q
Under what circumstances are ann IB/CB Omnibus Arrangement not acceptable
A
IIROC - MFDA members
Offshore IC/PM
