Series 99: 2.3.2.2 Quarterly Securities Counts Rule

2.3.2.2  Quarterly Securities Counts Rule

At least once each calendar quarter all carrying firms must physically examine and count the securities held in their possession. This is often referred to as the “box count.”

Broker-dealers must also account for all other securities not in their possession but subject to the broker-dealer’s control or direction. Any discrepancies between the broker-dealer’s securities count and the firm’s records must be noted and, within seven days, the unaccounted for differences must be recorded in the firm’s records.

Each quarter, the firm must perform the following actions:

• • Physically examine and count all securities held
• • Account for all securitie