Does FINRA Rule 3210 apply to me?
Rule 3210 governs accounts opened by members at firms other than where they work. All employees must declare their intent and obtain their employers’ consent if they wish to open or maintain an investment account at any other financial institution.
What does FINRA Rule 3160 cover?
FINRA Rule 3160 requires that a member that is a party to a networking arrangement with a financial institution provide certain written disclosures, at or prior to the opening of a customer account, including that securities products are: (1) not FDIC insured; (2) not deposits or other obligations of the financial …
Who does FINRA Rule 3210 apply to?
By its terms, the requirements of FINRA Rule 3210 would apply with respect to each spouse vis-à-vis his or her respective employer member and the relevant executing member or other financial institution.
What is the FINRA rule for selling away?
Generally, selling away is a violation of securities regulations and can result in disciplinary action or fines. FINRA rule 3040 prohibits an a registered representative or associated person from selling any security “away” from the member firm unless the firm has authorized the associated person to make the sale.
How do I get a 3210 letter?
Rule 3210 requires financial advisors to make a request and obtain consent from the FINRA member firm they work for to keep their accounts somewhere else. It also requires a disclosure letter to the outside firm when a securities industry professional opens an account.
What is a 407 3210 letter?
What is a 407 3210 letter? Rule-407 indicates the conditions under which a member of the FINRA may hold personal investments. In fact, the Rule-407 letter involves the accounts opened by members of the FINRA or by members of their families so that these people are allowed to receive duplicate statements by the FINRA.
What is a networking arrangement?
Networking arrangement means a contractual or other written agreement between a member and a financial institution under which the member offers broker-dealer services on or off the premises of the financial institution.
What is a 407 3210 document?
What are FINRA rules?
FINRA’s rules and guidance strive to protect investors and ensure the integrity of today’s rapidly evolving market. FINRA’s rules and guidance strive to protect investors and ensure the integrity of today’s rapidly evolving market. FINRA is here to help keep investors and their investments safe.