![]() For information about Anti Money Laundering (AML) compliance during account opening and thereafter, see FINRA’s AML page or FINRA Rule 3310. You may learn additional information through a review of your customer’s background, as required by your firm’s account opening procedures. Firm procedures on this will vary, but they may require that you review the customer’s driver’s license or passport or, for legal entity accounts, the entity’s formation documents. Your firm must also have a Customer Identification Program to verify the customer’s identity. You will obtain some of this information, including at least the customer information described in FINRA Rule 4512, when opening a new customer’s account with your firm. You are responsible for ensuring that the essential facts concerning your customer are accurate and updated. The first step in serving your customers properly is to “know your customer” in accordance with FINRA Rule 2090. Opening Accounts and Knowing Your Customer ![]() If you telemarket, you should have received training from your firm that addressed these and other requirements. as well as calling an individual who previously stated that he or she does not want to receive calls or is on the national do-not-call registry. For example, FINRA Rule 3230 generally prohibits “cold calling” a prospective customer before 8 a.m. There are also restrictions on calling investors and telemarketing. ![]() You should consult your supervisor if you have any questions regarding disclosures. Additionally, you are prohibited from guaranteeing that a securities transaction will not lose money. Misrepresenting or omitting any material information in both discussions and distributed materials is prohibited and, under certain circumstances, may be considered fraud. You are obligated to disclose material information about investments that you discuss with or recommend to potential investors. ![]() Whether your work is with individuals, institutions or business entities, your obligation in this profession is to serve your customers with honesty and integrity by putting their interests first.īelow are descriptions of some rules that govern your activities, conduct and obligations to your customers. The foundation of the securities industry is fair dealing with customers.
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