Series 26: Payment

Taken from our Series 26 Online Guide

Payment

When a broker-dealer delivers a security, it has the right to require immediate payment by certified check, cashier’s check, bank draft, or cash. Brokerage firms who do not “self-clear,” however, are prohibited from accepting checks, cash, or securities from their customers. Checks must instead be forwarded to their clearing firm.

FINRA Rule 11330

Since you're reading about Series 26: Payment, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 26
Please Enable Javascript
to view this content!