Furnishing the Firm's Financial Condition

What this video covers

• Who qualifies as a bona fide regular customer and why having cash or securities in the firm's possession is the only trigger that matters
• What document the firm must actually provide: its most recent balance sheet, prepared under usual practice or as securities law requires
• The firm's choice between on-site inspection and direct delivery, and why the firm never has to offer both
• How paper delivery differs from electronic delivery in terms of customer consent requirements
• The exam trap of defaulting a customer into electronic delivery without prior explicit consent
• How to distinguish valid delivery methods from invalid ones when the scenario adds time pressure or representative stress
• Why walking in off the street without assets at the firm means no right to the balance sheet, regardless of how loudly the person demands it