Account Supervision and Approvals: Rapid Fire

What this video covers

• Why every registered person must be assigned to an appropriately registered supervisor, and why "reasonably designed" does not guarantee compliance
• The difference between an Office of Supervisory Jurisdiction (OSJ) and a regular branch office, and why every OSJ needs at least one on-site principal
• Which three specific roles can approve an options account, and the 10-business-day deadline that applies when the branch manager is not the initial approver
• When time-and-price discretion is same-day only by default, and what triggers the need for full prior written discretionary authority naming a specific individual
• The Securities and Exchange Commission (SEC) customer-protection rule: what "physical possession or control" means and why fully paid securities cannot fund firm proprietary trading
• How the Automated Customer Account Transfer Service (ACATS) timeline works: 1 business day to validate, 3 business days to complete
• The numbers that define pattern day trader status, free-riding freezes, suspicious activity report thresholds, and enhanced supervisory-control revenue triggers