Section 26-B122. CUSTOMER RECORDS AND COMPLAINTS

 

122.1Any broker-dealer maintaining customer records and complaints pursuant to SEC or FINRA rules shall be deemed to be in compliance with this section. Any broker-dealer not in compliance with SEC or FINRA customer records and complaints records rules shall make and keep customer records and complaints, and other documents relating to business conducted in the District as specified in this section. The records of customers shall be maintained by the broker-dealer in the form and manner as to reflect the customer's name, address, occupation, whether the customer is legally of age, the signature of the registered representative introducing the account to the broker-dealer and the signature of the partner, officer, or manager accepting the account for the broker-dealer. If the customer is associated with or employed by another broker-dealer, the name of the other broker-dealer shall be given.

 

122.2In discretionary accounts, the broker-dealer shall also record the signature of each person authorized to exercise discretion in the account.

 

122.3The broker-dealer shall maintain all written complaints of customers and the action taken by the broker-dealer, if any, or a separate record of the complaints and a clear reference to the file containing the correspondence connected with the complaint.

 

122.4All complaints filed and decisions entered by any federal, state or self-regulatory body with respect to the broker-dealer's activities or with respect to any activities of any employee or associated person licensed under the Act no matter where they occurred.

 

source

Final Rulemaking published at 40 DCR 6732 (September 24, 1993); as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 4106 (May 11, 2001).