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The document is an Institutional Suitability Certificate affirming that the undersigned institution, as defined by FINRA, is capable of independently evaluating investment risks and will exercise independent judgment regarding broker-dealer recommendations. It outlines the responsibilities of the institution, including notifying Dealogic of any changes in status and authorizing the sharing of information with third parties. The certificate does not waive any rights under U.S. securities laws.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the order for determining suitability for a client under Finra rules?

Reasonable-basis suitability has two main components: a broker must (1) perform reasonable diligence to understand the potential risks and rewards associated with a recommended security or strategy and (2) determine whether the recommendation is suitable for at least some investors based on that understanding.

What records need to be kept for 7 years?

Period of Limitations that apply to income tax returns Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.

How long do accounts have to be kept for?

You need to keep your accounting records for longer \u2013 six years from the end of the last company year they relate to. There are some situations when limited companies need to keep records for longer, if: they show a transaction covering more than one of the company's accounting periods.

How do you determine suitability?

What Should a Suitability Assessment Consider? Age. Investment goals. Investment timeframe. Risk tolerance. Financial situation and obligations. Liquidity needs. Current investment portfolio and assets. Investment knowledge, sophistication, and experience.

What is the suitability rule?

A stated or implied requirement by a regulatory body that a broker or investment adviser must reasonably believe that a certain investment decision will benefit a client before making a recommendation to him/her.

finra 2111 form

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What is the retention period for customer records?

How long should you keep business documents? In general, company records must be retained for around six years, however, some documentation needs to be kept for 10 years, including companies' statutory books, VAT MOSS records and minutes of board meetings.

What does suitability mean?

Definitions of suitability. the quality of having the properties that are right for a specific purpose. \u201can important requirement is suitability for long trips\u201d synonyms: suitableness.

What is the Finra Rule 2111?

FINRA Rule 2111 requires that a firm or associated person have a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable for the customer.

How many years must customer account records be retained by a member?

For purposes of this Rule, members shall preserve a record of any customer account information that subsequently is updated for at least six years after the date that such information is updated.