Quick Answer
Broker-dealer operations covers the account and transaction controls that protect customer assets and keep firm records accurate. This chapter follows the Series 99 outline from account opening through transfers, custody, reporting, margin, settlement, statements, financial controls, and books and records.
What You'll Learn
| Unit | Focus |
|---|---|
| Account Opening and Maintenance | Customer accounts, records, disclosures, and restrictions |
| Cashiering and Account Transfers | Movement of funds, securities, checks, and account transfers |
| Custody and Control of Securities | Safekeeping, delivery, securities records, and restricted securities |
| Trade Reporting and Corrections | Reporting, corrections, error accounts, and prohibited trading activity |
| Margin and Securities Lending | Margin accounts, stock loans, and short-sale operations |
| Settlement | Comparisons, fails, closeouts, and settlement arrangements |
| Account Statements and Confirmations | Statements, confirmations, tax reporting, and delivery |
| Regulatory Financial Requirements | Financial controls, reports, net capital, and reserve calculations |
| Books and Records | Reconciliations, posting, retention, and electronic records |