Account Statements and Confirmations: Rapid Fire

What this video covers

• Why a false price is prohibited regardless of whether it favors or disfavors the customer, and how direction never excuses the lie
• The exact difference between a customer account statement (positions, balances, and activity) and a performance report (historical analysis)
• What must appear on a statement when an introducing firm and carrying firm both service the account, including the discrepancy advisory to both firms
• Why a direct participation program (DPP) or unlisted real estate investment trust (REIT) value is an estimate, not a market price, and the required illiquidity warning
• When a confirmation is due (at or before completion of the transaction, not a fixed period after execution) and how capacity drives the disclosure path
• The conditional confirmation disclosures that follow specific securities: early-call terms, dollar price and yield, and prepayment variability
• The exact deadlines that matter most: 5 business days for periodic statements, 2 business days for a final prospectus, and 48 hours for a preliminary prospectus in covered new-issuer distributions
• Why falsifying and withholding are separate prohibited conduct, and why required tax withholding applies even when a customer objects