Outside Securities Accounts

What this video covers

• Why consent goes to the employer and notice goes to the executing firm, and why "notifies both firms" is always the wrong answer
• The 30 calendar day grace period for pre-existing accounts versus the zero-grace-period requirement of prior written consent for new accounts opened during employment
• How beneficial interest extends the rule to spouses, dependent children, and controlled accounts even when the agent's name never appears on the account
• The employer's right to request and receive duplicate confirmations and statements from executing broker-dealers, and why non-member banks fall outside this compliance duty
• The fundamental distinction between an outside securities account (the agent's own money, permitted with consent) and selling away (transactions for others, generally prohibited)
• The specific list of exempt passive accounts including 529 college savings plans, unit investment trusts, variable contracts, and mutual funds, and why no consent or notice applies to these