Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 18: Handling Customer Accounts (4qs) - Coggle Diagram
Unit 18: Handling Customer Accounts (4qs)
Customer Confirmations and account records
Customer Confirmations
CONFIRMATION IS AFTER THE ORDER , NEED TO HAVE THE RPRICE AND THE COMISSION, RECEIVED THE NEXT DAY , NEED CONFIRMATION BY WHEN IT SETTLED
Customer Account Statements : DONE QUARTERLY UNLESS PENNY STOCK OR ACTIVITY , THEN MONTHLY
Net Investment :check: MARK THE MARKET TO A CLOSING PRICE ,
Updating account information and account transfers
Updating Customer Account Information :star: copy update within 30 days
Transferring Customer Accounts Between Member Firms :check:
Transfer Initiation Form (TIF)
ACATS (Automated Customer Transfer Service)
Change in the account's firm, sponsors, moving assets
Negative response letter :check:
Handling Customer Accounts
:star: 6 years, with first 2 years being in an accessible place: Customer account records, blotters, trade confirmations SECOND BIGGEST
:star: Customer Complaints - 4 years (letter, email, text) :check:
:star: 3 years: General correspondance and many business records BIGGEST CATEGORY USUALLT THIS ONE
Rules and regulation pertaining to the handling of customer accounts
Death of an Account Holder :star: TOD , JTWR, CANCEL ALL OPEN TRADES AND WAIT FOR SOMEONE FROME ESTATE TO COME
Holding Customers' Mail :star: WRITTEN EXPLANATION IF HAVE TO DO IT
Approval and Documentation of changes in Account Name or Designation : GO TO REGISTERED PRINCIPAL
Anti-Money Laundering (AML) Compliance :check:
Currency Transaction Report (CTR)
FINRA rule customer account verification :check: