Quick Answer
Customer account statements and confirmations must preserve accurate document integrity. Improper conduct includes prohibited activities related to pricing securities on those documents, falsifying a statement or confirmation, and withholding either document. On an exam question, identify conduct that distorts, conceals, or improperly prevents delivery of customer information.
The prior topics identify what customers receive. This topic tests conduct that improperly changes, misstates, or prevents access to those documents.
Pricing on Statements and Confirmations
- Questions may test prohibited activities related to pricing securities on customer account statements and confirmations.
- The tested issue is whether pricing-related conduct on a customer document is improper.
- Evaluate the conduct shown in the facts, not merely the document's label.
Document Integrity
| Prohibited conduct | What it involves |
|---|---|
| Falsifying documents | Prohibited conduct involving customer account statements or confirmations |
| Withholding documents | Prohibited conduct involving customer account statements or confirmations |
Improper pricing, falsification, or withholding -> document-integrity concern.
Exam Tip: Gotchas
A statement or confirmation can raise a problem even when the issue is not an executed trade. Watch for pricing-related misconduct, falsification, and withholding as separate prohibited activities involving customer documents.