Mutual Funds And Scholarship Plans

Record Keeping Rules

The brokerage for which the representative works must keep various files, based on the minimum standards determined by regulations. The brokerage may also apply stricter record keeping standards than the ones stated in these regulations.

The representative is probably the person who, from the front line, must ensure that all the useful and necessary information for maintaining client files is included. He is often the one who will then send information to the brokerage. The representative must adhere to standards established by the brokerage for which he works, which is why it is important to know these standards.