Customer Accounts

Question 0

Rules do not apply to:

Answer 0

Non-profit org

Question 1

Telephone consumer act:

Answer 1

8am-9pm
Identity of caller, #, address
Do not call, do not call list
Written policy
Bans unsolicited junk fax 
IF PRIOR BUSINESS RELATIONSHIP, no call list restriction does not apply

Question 2

Fax sent to customer must have:

Answer 2

Date and time, identity, telephone #

Question 3

New account report KYC:

Answer 3

Customer name
Cannot be opened in 3rd party
DOB
SS
Non-US, tax id 
Photo Id
Numbered acct- written statement

Question 4

Signatures and approval

Answer 4

Must be signed by BM or principal RR, customer does not need to sign.

Final approval is by member firm

Question 5

Profile changes

Answer 5

If profile changes RR must update

Question 6

Customer identification Program(CIP)

Answer 6

Fed regulations under US patriot act required identify of customer. Must verify NEW ACCOUNT REPORT INFO in 5 days. Customer ID must be retained for 5 years after acct is closed

Question 7

JTWROS

Answer 7

2 or more people, upon death of either sole owner to other party. Need death certificate and affidavit of domicile

Question 8

JTWROS Continued:

Answer 8

Pass ownership upon death
Orders may be placed by either party
Both names on mail/checks