Acceptance of New Accounts. Broker shall be responsible for opening and approving new accounts in compliance with the Rules. 5.1.1 Pershing reserves the right to reject any account that the Broker may forward to Pershing as a potential new account for commercially reasonable reasons, including but not limited to, credit and reputational considerations. Pershing also reserves the right to terminate any account previously accepted by it as a new account for commercially reasonable reasons, including but not limited to, credit and reputational considerations.
Appears in 3 contracts
Samples: Fully Disclosed Clearing Agreement (Gleacher & Company, Inc.), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)
Acceptance of New Accounts. Broker shall be responsible for opening and approving new accounts in compliance with the Rules.
5.1.1 Pershing reserves the right to reject any account that the Broker may forward to Pershing as a potential new account for commercially reasonable reasons, including but not limited to, credit and reputational considerations. Pershing also reserves the right to terminate any account previously accepted by it as a new account for commercially reasonable reasons, including but not limited to, credit and reputational considerationsaccount.
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc)
