Every so often I get a letter asking me to verify or update the info the broker has on me regarding investment objective, income level, net worth, employment, etc. This is per SEC Rule 17a-3(a)(17). How important is this record, is it more for the broker or for the account holder? Can an account be frozen or something if some info is not up to date? Or if trading in the account does not match the objective (eg, trading a 'speculative' stock when the objective is set at 'capital preservation')?