Securities Counts, Stock Records, and Verification

What this video covers

• The five mandatory steps of a securities count, from physical examination through recording unresolved differences in a security count difference account
• Why the counter must be independent of the thing counted, and which daily duties disqualify someone like an operations associate from making or supervising the count
• What a box count actually covers: periodic physical counting of certificates, and why matching the physical tally to the stock record is required for completion
• How verification differs from a box count: comparing the stock record with depository positions, custodian records, and clearing firm records for securities out of physical possession
• When unresolved differences go into a difference account entry versus when both organizations must promptly resolve an outside record discrepancy
• The definition and purpose of the stock record as the broker-dealer's official record of securities positions and customer entitlements