1230. Associated Persons Exempt from Registration
• • • Supplementary Material: --------------
.01 Registration Requirements for Associated Persons Who Accept Customer Orders. The function of accepting customer orders is not considered a clerical or ministerial function. Each person associated with a member who accepts customer orders under any circumstances shall be registered in an appropriate registration category pursuant to Rule 1220. An associated person shall not be considered to be accepting a customer order where occasionally, when an appropriately registered person is unavailable, the associated person transcribes order details submitted by a customer and the registered person contacts the customer to confirm the order details before entering the order.
|Adopted by SR-FINRA-2017-007 eff. Oct 1, 2018.
Selected Notice: 17-30.