Series 62

AAA

Recommendations Professional Conduct And Taxation - Borrowing And Lending Money

Borrowing and lending of money between registered persons and customers is strictly regulated. If the broker dealer allows borrowing and lending between representatives and customers the firm must have policies in place the will allow for the loans to be made. Loans may be made between an agent or a customer if the customer is a bank or other lending institution,  where there is a personal or outside business relationship and that relationship is the basis for the loan or between to agents registered with the same firm.  If an agent wishes to maintain a joint account with an adult  customer the firm may allow an agent to do so as long as the agent’s participation in the profits and losses of the account are in direct relation to their financial contribution to the account.



Gift Rule
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