Knowledge of Customer’s Financial Resources and Investment Objectives. Introducing Firm shall comply with Rule 405(1) of the NYSE or comparable requirements of similar rules of any other regulatory or self-regulatory organization to which Introducing Firm is subject. Introducing Firm shall obtain all essential facts relating to each customer, each cash and margin account, each order, and each person holding a power of attorney over any account, in order to assess the suitability of transactions (when required by applicable rules), the authenticity of orders, signatures, endorsements, certificates, or other documentation, and the frequency of trading. Introducing Firm warrants that, to the best of its knowledge, Introducing Firm will not open or maintain accounts for persons who are minors or who are otherwise legally incompetent and that Introducing Firm will comply with NYSE Rule 407 and other laws, rules, or regulations that govern the manner and circumstances in which accounts may be opened or transactions authorized.
Appears in 3 contracts
Sources: Fully Disclosed Clearing Agreement (Cowen Group, Inc.), Fully Disclosed Clearing Agreement (Cowen Group, Inc.), Fully Disclosed Clearing Agreement (Cowen Group, Inc.)