3.3 didn't know Flashcards
(2 cards)
When opening a new account for an individual investor, FINRA asks its member to make a reasonable effort to obtain certain information about the account. Included information would be all of the following except
A)
the occupation of the customer and name and address of the employer.
B)
the customer’s tax identification or Social Security number.
C)
whether the customer is an associated person of another member.
D)
the name(s) of the customer’s dependents.
the name(s) of the customer’s dependents.
Nowhere in the FINRA rules on account opening does it require or suggest obtaining personal information about family members. That information becomes important when we look at the suitability rules. Please note that the tax ID or Social Security number is required under the customer identification program (CIP), but not FINRA rules.
