Personal Trading: Outside Accounts and Transaction Review

What this video covers

• The three-step outside-account opening sequence: notify employer, obtain prior written consent, then notify the executing firm in writing before the account is opened
• How beneficial interest reaches beyond direct ownership to capture spousal, joint, and trust accounts where the associated person has trading authority or beneficial-owner status
• The 30-calendar-day grandfather window for pre-existing accounts, and why day 31 without consent is a violation
• The scope of the rule across FINRA members, non-FINRA broker-dealers, investment advisers, banks, insurance companies, trust companies, credit unions, and investment companies including self-directed 401(k) accounts
• The risk-based approach to transaction review under written supervisory procedures (WSPs), and why the firm cannot exclude entire business lines from surveillance
• The five-business-day report for violations identified, and the 10-business-day quarterly report for all initiated investigations, with the investment-banking-services qualifier
• How to distinguish the two report triggers, deadlines, and content requirements when the exam presents them side by side