Preparation and Transmission of Confirmations and Statements. Clearing Agent shall prepare confirmations and summary periodic statements and shall, to the extent required by the Rules, transmit them to customers and Introducing Firm in a timely fashion except to the extent the parties agree in writing that Introducing Firm may transmit confirmations to customers. Confirmations and statements shall be prepared on forms disclosing that the account is carried on a fully-disclosed basis for the Introducing Firm in accordance with applicable rules, regulations, and interpretations. Introducing Firm will have the ultimate responsibility for compliance with the prospectus delivery requirements of the Securities Act of 1933, as amended, regardless of its retention of a prospectus fulfillment service to perform delivery of same; provided that the parties acknowledge that prospectus delivery services shall be provided to Introducing Firm by Clearing Agent.
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.)