Series 28: Recordkeeping And Reporting Responsibilities

Recordkeeping and Reporting Responsibilities

Upon opening a new customer account, either the carrying firm or the introducing firm must notify the customer in writing of the existence of the carrying agreement. The notification must describe the responsibilities allocated to each of the firms. The firms must also promptly notify the customer in writing of any changes in the firms or in the allocation of their responsibilities. The carrying firm is responsible for the content of the notifications.

When the agreement is executed and every year thereafter, the carryi