Series 6

By Investopedia AAA

Customer Accounts - Securities Exchange Act of 1934

SEC Rule 10b-10 - Confirmation of Transactions
This SEC rule attempts to prevent fraudulent schemes by registered representatives. It requires broker-dealers to send written confirmation for any transaction in a customer's account detailing date and time of the transaction, the actual security, number of shares and the price of securities bought or sold.

SEC Rule 17a-8 - Accounts and Records
This SEC rule covers financial recordkeeping and reporting of currency and foreign transactions. While Rule 17a-3 requires that records be kept for six years (the first two years in an easily accessible place), 17a-8 requires that these foreign transactions be kept for the longer of the period required under 17a-3 and the period required under part 103 of title 31 of the Code of Federal Regulations.



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