Customer Accounts
Each member firm must maintain the following information for each customer account:
- • Customer’s name and residence
- • Whether customer is of legal age
- • A principal’s signature denoting that the account has been accepted in accordance with the member’s policies and procedures
- • Except for an institutional account, the names of the associated persons responsible for the account and a record indicating the scope of their responsibilities
- • For a corporation, partnership, or other legal entity, the names of any persons authorized to transact business on the entity’s behalf
For discretionary accounts, the firm must also maintain a record of the dated, manual signature of each named, natural person authorized to exercise discretion in the account.
Institutional accounts and custom