SRO Notification Requirements

Discussion in 'Prop Firms' started by usedtrader, Dec 19, 2002.

  1. I'm absolutely new to this whole securities industry, and am still trying to get my arms around all this information and regulation we have. However, I have personally traded futures for 6 years now,and while studying for the 7 & 63 I noticed the distinction that was drawn between securities and futures. However, while visiting with the compliance officer, at the brokerage firm where I have my futures account open, I was informed that they were going to have to write my securities employer to see if they wanted duplicate copies of my my futures account confirmation. It was my understanding, of the rule, that the NASD NYSE and MSRB required this if you were opening a securities account at another B/D in your name or a dependents name. When did the NASD start requiring futures firms to notify securities B/D? OR is this really required?
  2. For exchange/NASD members duplicate statements of all trading accounts are required to be distributed.