Knowledge of Customer and Customer’s Investment Objectives. CLAY will be responsible for learning and documenting all the facts relative to every Customer necessary to insure compliance by CLAY with applicable rules and regulations, including the information and instructions submitted to FSWC pursuant to Section 2(a)(I), any additional facts relative to the Customer's investment objectives, and to the nature of every Customer Account, every order and every person holding power of attorney over any Customer Account. It shall be the responsibility of CLAY to ensure that those of its Customers who open or maintain Accounts hereunder shall not be minors; and CLAY will not accept Accounts for such persons as come within the express provisions of Rule 3050 of the Conduct Rules of the NASD, relating to transactions for or by associated persons, unless CLAY has complied with the provisions of said Rule and, if applicable, provided evidence of employer approval as required by said Rule. CLAY shall be solely responsible for any issues regarding the suitability of any investments for CLAY’s Customers.
Knowledge of Customer and Customer’s Investment Objectives. Correspondent will be responsible for learning and documenting all the required information relating to each and every Customer in order to ensure compliance by Correspondent with applicable rules and regulations and to ensure that each recommendation of an investment strategy or instrument, if any, as well as each account type utilized by the Customer is suitable. This required information includes, but is not limited to, all of the information and instructions submitted to Apex pursuant to Section 2(a), any additional facts relative to the Customer’s investment objectives, and every person holding power of attorney over any Customer Account. It shall be the responsibility of Correspondent to ensure that those of its Customers who open Accounts hereunder shall not be minors or otherwise legally incompetent and Correspondent will comply with Fl RA incorporated NYSE Rule 407 and other laws, rules, or regulations that govern the manner and circumstances in which accounts may be opened or transactions authorized. As between Apex and Correspondent. Correspondent shall be the pa1ty solely responsible for any issues regarding the suitability of any investments and account type selections for its Customers.
Knowledge of Customer and Customer’s Investment Objectives. ALEX WILL be responsible for learning and documenting all the facts relative to every Customer necessary to insure compliance by ALEX with applicable rules and regulations, including, the information and instructions submitted to FSWC pursuant to Section 2(a)(1), any additional facts relative to the Customer's investment objectives, and to the nature of every, Customer Account, every order and every person holding power of attorney over any Customer Account. It shall be the responsibility of ALEX to ensure that those of its Customers who open or maintain Accounts hereunder shall not be minors; and ALEX will not accept Accounts for such persons as come within the express provisions of Rule 3050 of the Conduct Rules of the NASD, relating to transactions for or by associated persons, unless ALEX has complied with the provisions of said Rule and, if applicable, provided evidence of employer approval as required by said Rule. ALEX shall be solely responsible for any issues regarding the suitability of any investments for ALEX'S Customers.
Knowledge of Customer and Customer’s Investment Objectives. Correspondent shall be solely and exclusively responsible through a general partner, a principal executive officer or a person designated for supervisory responsibilities to use due diligence to learn the essential facts relative to every Customer and Account, every order for any Account, and every person holding power of attorney over any Account, and to supervise diligently all Accounts handled by Correspondent’s registered representatives so as to be in full compliance with all Laws and Rules. The preparation or possession of surveillance records, exception reports and other similar data by ICS shall not obligate ICS to establish policies, practices or procedures relating to such materials. Correspondent shall be solely and exclusively responsible for ensuring that the Customers are not minors and do not otherwise lack the capacity to enter into a contract and are not prohibited from opening a securities account under the Laws and Rules.
