Form U4 Checklist

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On October finra broker dealer checklist,the SEC adopted amendments to Rules 17a-3 and 17a-4 under the Securities Exchange Act of to clarify and expand record keeping requirements in connection with purchase and sale documents, customer records, associated person records, customer complaint records, and certain other matters.

Using this checklist does not alter or create a safe harbor from applicable regulatory responsibilities. You are responsible for ensuring compliance with these rules. Three years, the first two years in finra broker dealer checklist easily accessible place. Under Rule 17a-3 a 6this memorandum need not be made as to a purchase, sale or redemption of a security on a subscription-way basis directly from or to the issuer if your firm maintains a copy of the customer's subscription agreement regarding a purchase, or a copy of any other document required by the issuer regarding a sale or redemption.

The companion record would be part of the firm's order ticket records and must be maintained, preserved, and available for examination in the same manner as the firm's order tickets. Generally, for many types of transactions, the time of receipt may be material to the price or other terms of the execution of the order.

For example, recording the time of receipt would be material if an intra-day time deadline finra broker dealer checklist that determined whether the order was priced as-of the date the order was received or the price as-of the next day. Three years after the associated person has terminated employment and all other connections with the firm.

The record has to include the amount of compensation if monetary and a description of the compensation if nonmonetary. In order to do this, the firm must also create and maintain as part of this record a companion record that identifies each associated person that has been a member of that team, including the dates the person joined and left the team, and the manner in which compensation is allocated among the members of the team.

Some associated persons do not directly participate in securities transactions with customers. Ensure that, for each associated person, there is a record of each written customer complaint received by the firm concerning that associated person which includes:.

Instead of the record, your firm may maintain a copy of each original complaint in a separate file by the associated person named in the complaint along with a record of the disposition of the complaint. Ensure that, for each account with a natural finra broker dealer checklist as a customer or owner, there is a record including:.

In the case of a joint account, the account record must include personal information for each joint owner who is a natural person; however, financial information for the finra broker dealer checklist joint owners may be combined.

The SEC's Interpretive Release notes that the account record requirement of Rule 17a-3 a 17 does not apply to an account for which the customer or owner is not a natural person, such as the account of:. The SEC's Interpretive Release states that the account record requirement does not apply finra broker dealer checklist an account where the account is owned by the trustees of the trust or a trust that is a legal entity separate from the holders of its beneficial interests which may be natural persons.

Ensure that, for each account with a natural person as a customer or owner, there is a record indicating that:. Six years finra broker dealer checklist the closing of the account or the date on which the information was replaced or updated, whichever finra broker dealer checklist earlier. A firm may choose to exclude the customer's tax identification number and date of birth from the information provided to the customer.

According to the Finra broker dealer checklist Interpretive Release, the account record information should, in the case of a trust, be sent to the same person that receives account statements for that account. The SEC posed the following question and answer regarding multiple accounts: Would the answer be different if spouses living at the same address each had a personal finra broker dealer checklist and agreed to receive account documents on a combined basis for their personal accounts?

The account record and furnishing requirements of Rule 17a-3 a 17 will only apply to accounts for which a firm is, or has within the past 36 months been, required to make a suitability determination under the federal securities laws or under the requirements of a self-regulatory organization of which it is a member.

Ensure that there are originals of all communications received and copies of all communications finra broker dealer checklist and any approvals thereof by the firm including inter-office memoranda and communications relating to the firm's business as such, including all communications which are subject to SRO rules of which the firm is a member regarding communications with the public.

Ensure that the firm has all partnership articles or, in the case of a corporation, all articles of incorporation or charter, minute books and stock certificate books or, in the case of any other form of legal entity, all records such as articles of organization or formation, and minute books used for a purpose similar to those records required for corporations or partnershipsall Forms BD and BDW, including finra broker dealer checklist amendments thereto, and all licenses or other documentation showing registrations with any securities regulatory authority.

Ensure that the firm has all reports produced to review for unusual activity in customer accounts. New and Amended Finra broker dealer checklist Requirements Checklist May On October 26,the SEC adopted amendments to Rules 17a-3 and 17a-4 under the Securities Exchange Act of to clarify and expand record keeping requirements in connection with purchase and sale documents, customer records, associated person records, customer complaint records, and certain other matters.

The effective date of the amendments to the books and records rules was May 2, Show the terms and conditions of the order or instructions, and any modification or cancellation thereof; Identify the account for which finra broker dealer checklist order is entered; Identify each associated person, if any, responsible for the account and any other person who entered or accepted the order on behalf of the customer, or if a customer entered the order on an electronic system, a notation of that entry; Note: The memorandum need not show the identity of any person, other than the associated person responsible for the account, who may have entered or accepted the order if the order finra broker dealer checklist entered into an electronic system that generates the memorandum and if that system is not capable of receiving an entry of the identity of any person other than the responsible associated person; in that circumstance, the member, broker or dealer shall produce upon request by a representative of a securities regulatory authority a separate record which identifies each other person.

Describe whether the order was entered subject to discretionary authority; Include, to the extent feasible, the time of execution or cancellation; and Identify the time the order was received, the time of entry, and the price at which it was executed.

Rules 17a-3 a 617a-3 a 7 Record Retention: Associated Person Location and Identification Number Records Ensure that, for each associated person, there is a record containing: Rule 17a-3 a 12 ii Record Retention: Associated Person Compensation Records Ensure that, for each associated person, there is a record containing: Rule 17a-3 a 19 Record Retention: Associated Person Complaint Records Ensure that, for each associated person, there is a record of each written customer complaint received by the firm concerning that associated person which includes: Rule 17a-3 a 18 i Record Retention: Customer Account Records Ensure that, for each account with a natural finra broker dealer checklist as a customer or owner, there is a record including: Rule 17a-3 a 17 Note: The SEC's Interpretive Release notes that the account record requirement of Rule 17a-3 a 17 does not apply to an account for which the customer or owner is not a natural person, such as the account of: Furnishing the Account Record Ensure that, for each account with a natural person as a customer or owner, there is a record indicating that: The firm has furnished each customer that opens an account on or after May 2, with a copy of the account record that includes the information required by paragraph a 17 i A of Rule 17a-3 or an alternate document containing that information within 30 days of the opening of the account, and at least every thirty-six months thereafter.

The firm has obtained account record information for each customer or owner of every account in existence before May 2, finra broker dealer checklist, and furnished the customer with a copy of the account record that includes the information required by paragraph a 17 i A of Rule 17a-3 or an finra broker dealer checklist document containing that information within three years of May 2, The firm has included with the account record or alternative document provided to each customer or owner an explanation of any terms regarding investment objectives.

The firm has included with the account record or alternate document prominent statements that the customer or owner should mark any corrections and return the account record finra broker dealer checklist alternate document to the firm, and that the customer or owner should notify the firm of any future changes to information contained in the account record.

The firm has furnished finra broker dealer checklist customer or each joint owner, and the associated person, if any, responsible for that account, with notification of any change in the account record to the name or address of the customer or owner on or before the 30th day after the date the firm received notice of the change.

If it is an address change, the notifications should be sent to that customer's old address. For each change in finra broker dealer checklist account's investment objectives, the firm has furnished each customer or owner and the associated person, if any, responsible for that account with a copy of the updated customer account record that includes the information required by finra broker dealer checklist a 17 i B of Rule 17a-3 or an alternate document containing that finra broker dealer checkliston or before the 30th day after the date the firm received notice of the change or, if the account was updated for some reason other than the firm receiving notice of a change, after the date the account record finra broker dealer checklist updated.

Each customer has been provided a copy of each written agreement entered into on or after May 2, pertaining to the account and, if requested by the customer, he or she was furnished with a fully executed copy of each agreement.

Each customer has been provided with a notice containing the address and telephone number of the department of the firm to which any complaints as to the account may be directed. Rules 17a-3 a 1717a-3 finra broker dealer checklist 18 Record Retention: Exemption from the Account Record Information and Furnishing Requirements The account record and furnishing requirements of Rule 17a-3 a 17 will only finra broker dealer checklist to accounts for which a firm is, or has within the past 36 months been, required to make a suitability determination under the federal securities laws or under the requirements of a self-regulatory organization of which it is a member.

Communications Supervision Records Ensure that there is a record which need not be separate from the advertisements, sales literature, or communications documenting that the firm has finra broker dealer checklist with, or adopted policies and procedures reasonably designed to establish compliance with, applicable federal and Finra broker dealer checklist requirements, of which the firm is a member, requiring principal approval of advertisements, sales literature or other communications with the public by the firm or its associated persons.

Rule 17a-3 a 20 Record Retention: Contact Person Records Ensure that there is a record for each office listing all individuals by name or title at that office who, without delay, can explain the types finra broker dealer checklist records maintained at that office and the information therein. Rule 17a-3 a 21 Record Retention: Six years, the first two years in an finra broker dealer checklist accessible place. Responsible Principal Records Ensure that there is a record listing each principal responsible for establishing policies and procedures reasonably designed to ensure compliance with any applicable federal requirements or rules of an SRO of which the firm is a member, requiring principal acceptance or approval of records.

Rule 17a-3 a 22 Record Retention: Office Records Ensure that the firm makes and keeps current, as to each office, certain books and records that reflect the activities of the office. Rules 17a-3 g17a-3 h17a-4 k. For the most recent two year period. Records to be Preserved by Brokers and Dealers Communications with the Public Ensure that there are originals of all communications received and copies of all communications sent and any approvals thereof by the firm including inter-office memoranda and communications relating to the firm's business as such, including all communications which are subject to SRO rules of which the firm is a member regarding communications with the public.

Rule 17a-4 b 4 Record Retention: Organizational Documents Ensure that the firm has all partnership articles or, in the case of a corporation, all articles of incorporation or charter, minute books and stock certificate books or, in the case of any other form of legal entity, all records such as articles of organization or formation, and minute books used for a purpose similar to those records required for corporations or partnershipsall Forms BD and BDW, including all amendments thereto, and all licenses or other documentation showing registrations with any securities regulatory authority.

Rule 17a-4 d Record Retention: Life of the enterprise and of any successor enterprise. Rule 17a-4 e 6 Record Retention: Three years after the date of the report. Rule 17a-4 e 7 Record Retention: Three years after the termination of use of manual. Exception Reports Ensure that the finra broker dealer checklist has all reports produced to review for unusual activity in customer accounts.

Rule 17a-4 e 8 Record Retention: Eighteen months after the date the report was generated.

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And you can easily understand, that if you invest 100 EUR on a Call Binary Option and 100 EUR on a Put Binary Option, only one of the two Options will be successful and therefore you will earn only one Payout (That it would be, in case that the Payout is 80, 80 EUR). But the concept is the same: you will have a loss of 20 EUR.

The most important thing is that you have, or better saying must, choose two different Expiry Times. For example, you can choose for the first Binary Option an Expiry Time like 30 Minutes.

Whereas for the second Binary Option an Expiry time of 15 Minutes.