Series 66: 9.1.9. Broker-Dealers Operating Within A Bank Setting

Taken from our Series 66 Online Guide

9.1.9. 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. They include the following:

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

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

The broker-dealer needs to distinguish its services from the services of the retail bank.

The broker-dealer must disclose orally and in

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