Account Communications and Records: Rapid Fire

What this video covers

• Why capacity disclosure on confirmations matters, and why a firm cannot act as both agent (commission) and principal (markup or markdown) in the same transaction
• How the settlement date, not the trade date, governs confirmation delivery deadlines
• When quarterly statements are required versus the two narrow exceptions that trigger monthly statements (penny stock positions and option-entry months)
• Why address-change notices go to the old address within 30 days as a fraud early-warning system
• The ACATS mechanical flow: customer initiates at the receiving firm, then 1 business day to validate and 3 business days to deliver
• How to sort the 6-year pile (how the firm operates, terms of opening and maintaining the account) from the 3-year pile (customer statements, agreements, correspondence, order tickets)
• Why FINRA written complaints are the 4-year oddball and MSRB complaints run 6 years