452. Assignment of Responsibility for General Ledger Accounts and Supplemental FOCUS Information
(a) Assignment of Responsibility for General Ledger Accounts
Each capital acquisition broker must designate an associated person who is responsible for each general ledger bookkeeping account and account of like function used by the broker and such associated person must control and oversee entries into each such account and must determine that the account is current and accurate as necessary to comply with all applicable FINRA rules and federal securities laws governing books and records and financial responsibility requirements. A supervisor must, as frequently as is necessary considering the function of the account but, in any event, at least monthly, review each account to determine that it is current and accurate and that any items that become aged or uncertain as to resolution are promptly identified and appropriate action is taken.
(b) Supplemental FOCUS Information
All capital acquisition brokers are subject to FINRA Rule 4524.
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Adopted by SR-FINRA-2015-054 eff. April 14, 2017. Selected Notice: 16-37. |