You are an RR and one of your fellow RRs decides to open an online trading account with an unaffiliated firm because the transaction fees are lower with their online services. Of the following, which are correct regarding NYSE regulations on this type of situation?
I. Only margin accounts must abide by NYSE regulations.
II. Regardless of whether it is a margin account or a cash account, the NYSE regulations must be followed.
III. The employing firm must receive duplicate statements and confirmations.
IV. The employing firm must consent to the opening of the account and must do so in writing.
(A) I only
(B) I, II, and III only
(C) II, III, and IV only
(D) I, II, III, and IV
Answers: 1
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