Series 7: 13.4.3. Outside Accounts Of Associated Persons

13.4.3. Outside Accounts of Associated Persons

Associated persons of member firms may not open investment accounts at other member firms or other financial institutions unless they receive prior written consent from their employing member firm. The associated person must also notify the other financial institution of her association with the employing member firm before opening the account. If the associated person already had the account when she was hired, she has 30 days from her hire date to notify both companies and obtain written permission from her new employer to keep the account. Otherwise, the account must be tra