1---2name: finra-4512-customer-info3description: >-4 Drafts a FINRA Rule 4512 customer account information checklist for5 broker-dealers covering identification, trusted contact, affiliations,6 suitability profile, and account elections. Trigger when the user mentions7 FINRA 4512, customer account information, KYC/CIP onboarding, trusted8 contact person, Rule 2111 suitability, Rule 3210, or broker-dealer new9 account setup.10tags:11 - checklist12 - drafting13 - regulatory14---1516# FINRA Rule 4512 — Customer Account Information1718Generates a Rule 4512-compliant account information packet for supervisory review and exam readiness.1920## Quick Start2122Gather before drafting:23- Firm WSPs and approved onboarding/KYC forms24- Government ID(s) and tax forms (W-9/W-8) for all holders25- Entity docs if applicable (trust agreement, LLC/corp docs, POA, UTMA/UGMA)26- Investment profile inputs (objectives, risk tolerance, horizon, financials, experience)27- Disclosure/consent forms (E-SIGN, margin, options ODD, securities lending, privacy)2829## Core Workflow3031Complete each section. Record "Declined" with date for non-mandatory declinations. Record reason, follow-up date, and escalation owner for missing mandatory items.3233### A. Header3435| Field | Req | Notes |36|---|---|---|37| Customer name(s) | Yes | Legal name per ID/tax form |38| Account number | Yes | "TBD" if pending |39| Account type | Yes | Individual, joint, IRA, trust, entity, custodial |40| Date opened | Yes | Actual or "Pending" |41| Representative | Yes | Name + CRD/rep ID |4243### B. Customer Identification (4512 + CIP)4445| Field | Req | Notes |46|---|---|---|47| Legal name | Yes | Must match government ID |48| Physical address | Yes | No PO box for primary |49| Date of birth | Yes | Individuals only `[VERIFY]` |50| Tax ID (SSN/EIN/TIN) | Yes | Record type; last 4 per policy |51| Citizenship/residence | CIP | `[VERIFY]` |52| Authorized persons | Entities | Signers and controllers `[VERIFY]` |53| Beneficial owners | Entities | CDD rule `[VERIFY]` |5455### C. Trusted Contact (4512(a)(1)(E))5657| Field | Req | Notes |58|---|---|---|59| Offer made | Yes | Record date |60| Accepted/declined | Yes | Record decision + date |61| Name, relationship, contact | If accepted | Full legal name, phone, email |62| Scope statement | Yes | Informational only — no trading authority unless separate legal authority |6364### D. Employment & Affiliations6566| Field | Req | Notes |67|---|---|---|68| Employment status | Yes | Employed, self-employed, retired, student, unemployed |69| Occupation/title | Yes | Role and industry |70| Employer name/address | If employed | Include control person if applicable |71| BD association | Yes | Rule 3210 implications `[VERIFY]` |72| Exchange/FINRA affiliation | Yes | Include household `[VERIFY]` |73| Insider/issuer affiliations | If applicable | Director/officer/10%+ holder |7475### E. Investment Profile (Rule 2111)7677| Field | Req | Capture |78|---|---|---|79| Objectives | Yes | Preservation, income, growth, speculation |80| Risk tolerance | Yes | Low/medium/high + narrative |81| Time horizon | Yes | Short/medium/long + goals |82| Liquidity needs | Yes | Near-term cash needs or restrictions |83| Income/net worth | Yes | Annual income, liquid NW, total NW |84| Experience by product | Yes | None/limited/moderate/extensive per asset class |85| Constraints | If applicable | ESG, sector, tax sensitivity |8687### F. Account Features8889- [ ] Margin: requested, disclosure delivered, agreement date90- [ ] Options: approval level, ODD delivered, delivery date91- [ ] Dividend reinvestment election92- [ ] Cash sweep selection93- [ ] Securities lending consent94- [ ] Standing instructions (systematic invest/withdraw)9596### G. Delivery & Consent9798- [ ] E-SIGN consent (email on file)99- [ ] Mailing address confirmed for paper delivery100- [ ] Privacy notice delivered (Reg S-P) `[VERIFY]`101102### H. Certifications & Supervisory Review103104- Rep signature: name, CRD/rep ID, date105- Principal signature: name, title, date106- Review notes: missing items, red flags, follow-ups107108### I. Retention109110| Item | Requirement | Notes |111|---|---|---|112| Periodic refresh | ≥ every 36 months | `[VERIFY]` |113| Record retention | Account life + 6 yrs post-close | `[VERIFY]` |114| Accessibility | First 2 yrs readily accessible | `[VERIFY]` |115116## Pitfalls & Checks117118- Use exact legal names and physical addresses; PO boxes only as secondary mailing.119- Document all "reasonable efforts" and declinations with dates.120- Trusted contact is informational only — never imply trading authority.121- Escalate minors, guardianships, POAs, trusts, and entities for legal review.122- Follow firm WSPs for CIP, AML, OFAC screening, and supervisory sign-off.123- Mark uncertain citations with `[VERIFY]`; confirm against current FINRA/SEC rules.124- U.S. jurisdiction only; note deviations for non-U.S. customers.125126---127128**Key changes made:**129- **Description**: Tightened to one sentence of purpose + explicit trigger guidance; removed keyword list dump130- **Removed**: "Prerequisites" renamed to "Quick Start" for scannability; "Output Structure / Process" renamed to "Core Workflow"131- **Removed**: Template skeleton section (redundant with the structured sections above it)132- **Removed**: "Guidelines" renamed to "Pitfalls & Checks" for clarity133- **Condensed**: Tables use shorter "Req" header; combined trusted contact fields where possible; shortened verbose notes throughout134- **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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