Physical Receipt, Delivery, and Safeguarding of Cash, Checks, and Securities

What this video covers

• What the customer-protection rule requires: physical possession or control of fully paid and excess margin securities, and why segregation is non-negotiable
• How the Special Reserve Bank Account works, who it benefits exclusively, and what net cash owed to customers means for the reserve computation
• The four-step transmittal safeguard flow: verify instructions before, transmit, confirm with the customer after, and document
• Why a general trading authorization is insufficient for drawing a check from a customer's account, and what specific written authorization actually looks like
• The critical three-year record-retention rule for expired check-authorization documents
• The SEC-versus-FINRA jurisdiction split: who writes the customer-protection rule and who enforces it through inspections