Account Communications and Records: Rapid Fire

What this video covers

• Why the confirmation deadline is settlement date, not trade date, and what must appear on that confirmation including capacity and accrued interest on debt
• How capacity distinguishes agent (commission) from principal (markup or markdown), and why a firm can never be both in the same transaction
• The baseline quarterly statement frequency, and the two specific triggers that bump statements to monthly: penny stock positions and options account entries
• The ACATS transfer sequence: customer initiates at receiving firm, carrying firm validates in 1 business day, then delivers in 3 business days after validation, and why partial rejection is prohibited
• Why a debit balance does not automatically block early release of pledged margin securities, and the post-withdrawal equity safety net formula
• The 30-day address change notice sent to the old address as a fraud early-warning system
• How to sort records into 3-year, 4-year, and 6-year buckets, including the blotter trap, the "customer" word trap, and the fallback default of 6 years when no specific rule applies