Broker-Dealers Operating within a Bank Setting

Many broker-dealers operate within bank settings. Because this may lead retail customers to assume that banking rules apply to broker-dealers, the NASAA has issued model rules regarding broker-dealers who operate within a bank setting.

1. The broker-dealer should offer its services in an area that is separate from the location where retail banking activities are taking place.

2. The broker-dealer’s name needs to be clearly stated where the broker-dealer activity is taking place.

3. The broker-dealer needs to disting