Series 53: 6.3.1.4. Subsidiary Records

Taken from our Series 53 Online Guide

6.3.1.4. Subsidiary Records

Records must be kept for:

Municipal securities in transfer to other owners or securities that have not yet been validated

Borrowed or loaned securities

Securities not completed on the settlement date

Such records shall be maintained as subsidiary records to the general ledger maintained by the broker-dealer.

All subsidiary records must include:

A description of the securities

The securities’ a

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