3.1.1. New Client Account Form
To open an account, all customers must fill out a new client account form, which is kept at the brokerage firm. The information required on the client account form depends on the type of customer account.
All accounts require the following information:
• Customer name and address (for a corporation, the name of the person authorized to transact business for the account)
• Whether the client is of legal age
• Name of associated person who will handle the account
• Principal’s signature affirming the account’s conformance to the firm’s policies
For both retail accounts and institutional accounts whose investments are limited to purchasing unsolicited mutual funds, the broker should make reasonable efforts to include the following information on its client account form before the settlement of the first transaction in the account:
• Social Security number or tax ID number
• Customer’s occupation and address of employer
• Whether the customer is employed by a bank o