YOUR CUSTOMER. The FINRA Rule 2090 (Know Your Customer) requires the Firm to use reasonable diligence and to know and retain the essential facts concerning each customer with regard to the opening and maintenance of every account. Additionally, to comply with FINRA Rule 2090, the Firm must understand the authority of each person acting on behalf of the customer to effectively service the customer’s account and act in accordance with any special handling instructions for the account. To comply with the regulation, the Firm will ask for the name, address, date of birth, social security number and other information for control persons/authorized parties associated with the account (i.e. authorized party, trustee, power of attorney, executors, guardians, and conservators). Control persons/authorized parties have a level of control over, or entitlement to, the funds or assets in the account that enable them, directly or indirectly, to control, manage or direct the account. If your identity or the identity of the individuals described above cannot be established, our Firm may not be able to open an account for you.
Appears in 4 contracts
Sources: Customer Agreement, Customer Agreement, Customer Agreement