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Wittaler [7]
3 years ago
6

After taking the information from a new client for the opening of a new account, an RR submits this information to his BOM. The

BOM when reviewing the new account information notes that the only address listed is that of a P.O. Box. Under what circumstances can the account be approved?
Business
1 answer:
Darya [45]3 years ago
4 0

Options:

[A] The new client is a personal friend of the RR who will be in charge of overseeing the new account.

[B] The new client agrees to provide a real address of a home or business, even though he insists that all correspondence be sent to the P.O. Box.

[C] The new client submits a written statement stating that for convenience purposes, he only uses a P.O. Box for all correspondence.

[D] The new client tells the RR and the BOM that he has not yet established a place of residence in the area and that the P.O. Box is the only fixed address he can give.

Answer:

B

Explanation:

Unless the new client provides a real address (either home or office), the account cannot be opened. FINRA regulations do not consider a P.O. Box as an acceptable residential address. The RR can send all the correspondence to the P.O. Box if the client requests it, but the client must still provide a real home or business address.

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