3.1.2.1. Recordkeeping for 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 customer account