Series 24: Restrictions Against Borrowing And Lending With Customers

Taken from our Series 24 Online Guide

Restrictions Against Borrowing and Lending with Customers

Associated persons are prohibited from borrowing money from customers or lending money to customers unless the member firm has written procedures that specifically allow it, and these other conditions apply: (1) the customer is an immediate family member of the associated person; (2) the customer is an institution or person that lends money in its regular course of b

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