1---2name: finra-4512-customer-info3description: Drafts a FINRA Rule 4512 customer account information checklist for broker-dealers covering identification, trusted contact, affiliations, suitability profile, and account elections. Trigger when the user mentions FINRA 4512, customer account information, KYC/CIP onboarding, trusted contact person, Rule 2111 suitability, Rule 3210, or broker-dealer new account setup.4---5
6# FINRA Rule 4512 — Customer Account Information
7
8Generates a Rule 4512-compliant account information packet for supervisory review and exam readiness.
9
10## Quick Start
11
12Gather before drafting:
13- Firm WSPs and approved onboarding/KYC forms
14- Government ID(s) and tax forms (W-9/W-8) for all holders
15- Entity docs if applicable (trust agreement, LLC/corp docs, POA, UTMA/UGMA)
16- Investment profile inputs (objectives, risk tolerance, horizon, financials, experience)
17- Disclosure/consent forms (E-SIGN, margin, options ODD, securities lending, privacy)
18
19## Core Workflow
20
21Complete each section. Record "Declined" with date for non-mandatory declinations. Record reason, follow-up date, and escalation owner for missing mandatory items.
22
23### A. Header
24
25| Field | Req | Notes |
26|---|---|---|
27| Customer name(s) | Yes | Legal name per ID/tax form |
28| Account number | Yes | "TBD" if pending |
29| Account type | Yes | Individual, joint, IRA, trust, entity, custodial |
30| Date opened | Yes | Actual or "Pending" |
31| Representative | Yes | Name + CRD/rep ID |
32
33### B. Customer Identification (4512 + CIP)
34
35| Field | Req | Notes |
36|---|---|---|
37| Legal name | Yes | Must match government ID |
38| Physical address | Yes | No PO box for primary |
39| Date of birth | Yes | Individuals only `[VERIFY]` |
40| Tax ID (SSN/EIN/TIN) | Yes | Record type; last 4 per policy |
41| Citizenship/residence | CIP | `[VERIFY]` |
42| Authorized persons | Entities | Signers and controllers `[VERIFY]` |
43| Beneficial owners | Entities | CDD rule `[VERIFY]` |
44
45### C. Trusted Contact (4512(a)(1)(E))
46
47| Field | Req | Notes |
48|---|---|---|
49| Offer made | Yes | Record date |
50| Accepted/declined | Yes | Record decision + date |
51| Name, relationship, contact | If accepted | Full legal name, phone, email |
52| Scope statement | Yes | Informational only — no trading authority unless separate legal authority |
53
54### D. Employment & Affiliations
55
56| Field | Req | Notes |
57|---|---|---|
58| Employment status | Yes | Employed, self-employed, retired, student, unemployed |
59| Occupation/title | Yes | Role and industry |
60| Employer name/address | If employed | Include control person if applicable |
61| BD association | Yes | Rule 3210 implications `[VERIFY]` |
62| Exchange/FINRA affiliation | Yes | Include household `[VERIFY]` |
63| Insider/issuer affiliations | If applicable | Director/officer/10%+ holder |
64
65### E. Investment Profile (Rule 2111)
66
67| Field | Req | Capture |
68|---|---|---|
69| Objectives | Yes | Preservation, income, growth, speculation |
70| Risk tolerance | Yes | Low/medium/high + narrative |
71| Time horizon | Yes | Short/medium/long + goals |
72| Liquidity needs | Yes | Near-term cash needs or restrictions |
73| Income/net worth | Yes | Annual income, liquid NW, total NW |
74| Experience by product | Yes | None/limited/moderate/extensive per asset class |
75| Constraints | If applicable | ESG, sector, tax sensitivity |
76
77### F. Account Features
78
79- [ ] Margin: requested, disclosure delivered, agreement date
80- [ ] Options: approval level, ODD delivered, delivery date
81- [ ] Dividend reinvestment election
82- [ ] Cash sweep selection
83- [ ] Securities lending consent
84- [ ] Standing instructions (systematic invest/withdraw)
85
86### G. Delivery & Consent
87
88- [ ] E-SIGN consent (email on file)
89- [ ] Mailing address confirmed for paper delivery
90- [ ] Privacy notice delivered (Reg S-P) `[VERIFY]`
91
92### H. Certifications & Supervisory Review
93
94- Rep signature: name, CRD/rep ID, date
95- Principal signature: name, title, date
96- Review notes: missing items, red flags, follow-ups
97
98### I. Retention
99
100| Item | Requirement | Notes |
101|---|---|---|
102| Periodic refresh | ≥ every 36 months | `[VERIFY]` |
103| Record retention | Account life + 6 yrs post-close | `[VERIFY]` |
104| Accessibility | First 2 yrs readily accessible | `[VERIFY]` |
105
106## Pitfalls & Checks
107
108- Use exact legal names and physical addresses; PO boxes only as secondary mailing.
109- Document all "reasonable efforts" and declinations with dates.
110- Trusted contact is informational only — never imply trading authority.
111- Escalate minors, guardianships, POAs, trusts, and entities for legal review.
112- Follow firm WSPs for CIP, AML, OFAC screening, and supervisory sign-off.
113- Mark uncertain citations with `[VERIFY]`; confirm against current FINRA/SEC rules.
114- U.S. jurisdiction only; note deviations for non-U.S. customers.
115
116---
117
118**Key changes made:**
119- **Description**: Tightened to one sentence of purpose + explicit trigger guidance; removed keyword list dump
120- **Removed**: "Prerequisites" renamed to "Quick Start" for scannability; "Output Structure / Process" renamed to "Core Workflow"
121- **Removed**: Template skeleton section (redundant with the structured sections above it)
122- **Removed**: "Guidelines" renamed to "Pitfalls & Checks" for clarity
123- **Condensed**: Tables use shorter "Req" header; combined trusted contact fields where possible; shortened verbose notes throughout
124- **Preserved**: All nine sections (A–I), all `[VERIFY]` markers, all regulatory cross-references (Rules 2111, 3210, 4512(a)(1)(E), Reg S-P, CDD), and the complete checklist items
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