Customer Account Statements

What this video covers

• Why the baseline customer-account-statement rule is quarterly, not monthly, and which three conditions (security position, money balance, or account activity) trigger the requirement
• How hyperactive trading, margin debit balances, and open options positions alone all remain quarterly, not monthly
• The two genuine monthly triggers: penny stock positions held and options accounts at an exchange member with an actual entry during that month
• The four strict conditions for DVP/RVP accounts to skip quarterly statements, and why three out of four means the statement still goes out
• What must appear on a penny stock statement: estimated market value or the exact phrase "no estimated market value," the conspicuous pricing legend, and the 10-day delivery deadline
• Why a firm can only add a duplicate recipient with written customer instructions, but only a court-appointed fiduciary can replace the customer as recipient
• How oral discrepancy complaints must be confirmed in writing to protect Securities Investor Protection Corporation (SIPC) rights, and why both introducing and carrying firms must receive that written notice