Can FINRA members trade options?
FINRA employees also cannot hold, purchase, write or sell options or other derivative securities for which value is determined from a debt or equity interest in any company included on the Prohibited Company List.
What does FINRA Rule 2165 allow?
Rule 2165 permits, under FINRA rules, a member to place a temporary hold on a disbursement of funds or securities from the account of a specified adult if the member reasonably believes that financial exploitation of the specified adult has occurred, is occurring, has been attempted or will be attempted.
When must the options Disclosure Document Odd be furnished to a customer?
Firms must deliver the ODD supplements no later than the time a customer receives a confirmation of a transaction in the category of options to which the supplement pertains. Rule 2360(b)(11)(A)(3) also requires FINRA to advise firms when revisions to the ODD are made.
What is the FINRA rule?
Protecting Investors From Misconduct. 2022. 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.
What is FINRA Rule 4512?
FINRA Rule 4512 (Customer Account Information) requires members to make reasonable efforts to obtain the name of and contact information for a trusted contact person upon the opening of a non-institutional customer’s account or when updating account information for a non-institutional account.
Which FINRA rule covers suitability of sales of variable annuities?
Rule 2310
The Rule’s Application For instance, FINRA’s general suitability rule (NASD Rule 2310 ) continues to apply to any recommendations to reallocate subaccounts or to sell a deferred variable annuity.
What is a trusted contact finra?
A trusted contact is a person you authorize your financial firm to contact in limited circumstances, such as if there is a concern about activity in your account and they have been unable to get in touch with you.
What is considered correspondence under Finra rules?
As revised, FINRA Rule 2210(a)(2) defines “correspondence” as “any written (including electronic) communication that is distributed or made available to 25 or fewer retail investors within any 30 calendar-day period.” Thus, the current distinction between existing retail customers and prospective retail customers is …
When must an options agreement be signed?
Option Account Agreement must be received by member firm within 15 calendar days from time the account is approved.
What is an options Disclosure Document?
Prior to buying or selling an option, investors must read a copy of the Characteristics and Risks of Standardized Options, also known as the options disclosure document (ODD). It explains the characteristics and risks of exchange traded options.