Series 53: Records For Secondary Market Trading Account Transactions

Taken from our Series 53 Online Guide

Records for Secondary Market Trading Account Transactions

Broker-dealers must keep and maintain records for each of their secondary market trading accounts. Records for both individual and joint accounts must show:

  • The description and aggregate par value of the securities
  • All orders received for the purchase of the securities from the account
  • The date of closing of the account
  • A reconciliation of profits and expenses of the account

Recall that a joint trading account is one that is shared between two or more dealers that share in the acc

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