Customer Account Statements
Chapters in this video
- 0:00 Account statement anatomy and the six required items
- 1:11 The SIPC protection disclosure and why it matters
- 2:11 Discrepancy reporting and SIPA written confirmation rules
- 3:44 DPP and unlisted REIT estimated value requirements
- 5:24 Statement versus performance report classification
- 6:35 Rapid-fire exam recap
What this video covers
- The six mandatory items on a customer account statement, including the Securities Investor Protection Corporation (SIPC) membership disclosure
- Why oral complaint calls are never enough, and how the SIPA paper-trail requirement protects customer rights
- Who receives discrepancy reports when both an introducing firm and a carrying firm share the account relationship
- Why a per-share estimated value for DPPs and unlisted REITs must appear on the statement, and why it is not a market price
- The three required illiquidity and valuation warnings for DPP and unlisted REIT holdings
- How to classify a document based on its underlying purpose: positions, balances, and activity point to a statement; performance data points to a performance report
- The exam's favorite traps at the boundary between statement content and performance reporting
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 99 course also includes adaptive practice questions and spaced-repetition flashcards, free through the end of 2026.