209. Know Your Customer
Every capital acquisition broker shall use reasonable diligence to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer. For purposes of this Rule, facts "essential" to "knowing the customer" are those required to (a) effectively service the customer, (b) understand the authority of each person acting on behalf of the customer, and (c) comply with applicable laws, regulations and rules.
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Adopted by SR-FINRA-2015-054 eff. April 14, 2017. Selected Notice: 16-37. |