Series 24: Customer Accounts

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 c