Required Product Disclosures

What this video covers

• The four required bank-sales disclosures (not Federal Deposit Insurance Corporation insured, not a deposit, not guaranteed, may lose principal) and why they are triggered at account opening rather than on every trade
• How the prospectus delivery periods differ for unlisted initial public offerings (90 days), unlisted follow-on offerings (40 days), listed initial public offerings (25 days), and already-listed reporting issuers (zero days)
• What a trade confirmation must contain for standard equity trades versus the additional yield-to-maturity and yield-to-call requirements for debt securities
• Why the Financial Industry Regulatory Authority baseline for account statements is quarterly, and the single exception that flips it to monthly
• The five mandatory hurdles before a penny stock trade, including the Securities and Exchange Commission risk disclosure, bid and ask disclosure, suitability determination, written agreement, and monthly statements
• Who publishes the options disclosure document (Options Clearing Corporation) versus the municipal official statement (issuer), and the critical timing gap between them
• Why delivering the options disclosure document is a broker-dealer obligation before account approval, while the signed options agreement is a customer obligation within 15 days after approval