Series 27: FINRA Count And Verification Requirements

FINRA Count and Verification Requirements

Carrying or clearing members that must comply with the quarterly security count rule must make more frequent counts, verifications, and records entries where prudent. In addition, they must receive position statements from their clearing corporation or custodian, with respect to the members’ securities held by those entities, no less than once a month. The carrying or clearing members must then reconcile those securities and the money balances with their own books and records. The firms must promptly report and resolve any d