Account Registration Changes and Internal Transfers

What this video covers

• Why only a qualified and registered principal, not the registered representative (RR), can approve an account name or designation change, and why that approval must be in writing
• The critical timing rule: pre-execution changes require documentation prior to execution, never after the trade
• How the Automated Customer Account Transfer (ACAT) system works, including the roles of the receiving firm versus the delivering firm
• The one-three timeline: 1 business day to validate plus 3 business days to complete, for 4 business days total from initiation
• Why customer retention is never a valid reason for a delivering firm to take exception to an ACAT transfer, and what the closed list of valid reasons includes
• What happens when assets move between accounts at the same firm, and why internal re-registration still triggers principal approval requirements
• Which documents are required for re-registration at death, and why joint tenants with right of survivorship (JTWROS) and tenants by entirety (TBE) accounts need only a death certificate with no court involvement