United States:
FINRA Proposes Technical Change To Customer Account Information Rule
04 December 2018
Cadwalader, Wickersham & Taft LLP
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FINRA proposed to amend
FINRA Rule 4512(a)(3) ("Customer Account
Information") to permit broker-dealers to obtain electronic -
rather than manual - signatures of personnel exercising
discretionary trading authority over customer accounts. FINRA
acknowledged that while manual signatures were historically
required to assist firms in verifying the identity of personnel,
the requirement for manual signatures was now obsolete in light of
technological advances in the authentication of electronic
signatures.
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