3150. Holding of Customer Mail
(a) A member may hold mail for a customer who will not be receiving mail at his or her usual address, provided that:
(1) the member receives written instructions from the customer that include the time period during which the member is requested to hold the customer's mail. If the requested time period included in the instructions is longer than three consecutive months (including any aggregation of time periods from prior requests), the customer's instructions must include an acceptable reason for the request (e.g., safety or security concerns). Convenience is not an acceptable reason for holding mail longer than three months;
(2) the member:
(A) informs the customer in writing of any alternate methods, such as email or access through the member's website, that the customer may use to receive or monitor account activity and information; and
(B) obtains the customer's confirmation of the receipt of such information; and
(3) the member verifies at reasonable intervals that the customer's instructions still apply.
(b) During the time that a member is holding mail for a customer, the member must be able to communicate with the customer in a timely manner to provide important account information (e.g., privacy notices, the SIPC information disclosures required by Rule 2266), as necessary.
(c) A member holding a customer's mail pursuant to this Rule must take actions reasonably designed to ensure that the customer's mail is not tampered with, held without the customer's consent, or used by an associated person of the member in any manner that would violate FINRA rules or the federal securities laws.
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Adopted by SR-FINRA-2013-025 eff. Dec. 1, 2014. Selected Notice: 14-10. |
- Regulatory Notice 14-35September 16, 2014
- Regulatory Notice 14-10March 19, 2014