Supervision of Orders and Accounts. Correspondent shall be solely and exclusively responsible for the conduct and supervision of the Accounts and all transactions therein and their compliance with the Applicable Laws and Rules. Correspondent’s responsibilities shall include, without limitation, the following:
Supervision of Orders and Accounts. Pensxx xxxl execute orders for Correspondent's Customers after Correspondent's appropriate principals have accepted and approved said Accounts. Correspondent will be responsible for the review and supervision of, and the suitability of, investments made by each and every one of its Customers and Pensxx xxxll have no responsibility. Correspondent shall be responsible for insuring that all transactions in and activities related to all Accounts opened by it with Pensxx, xxcluding discretionary Accounts, will be in compliance with all applicable laws, rules and regulations of the United States, the several states, governmental agencies, securities exchanges and the NASD, including any laws relating to Correspondent's fiduciary responsibilities to Customers, either under the Employee Retirement Income Security Act of 1974 or otherwise. Correspondent shall diligently supervise the activities of its officers, employees and representatives with respect to all Accounts. Pensxx xxxl perform the clearing services provided for in this Agreement for Accounts accepted by it in accordance with the terms of this Agreement, as it may be amended from time to time, and otherwise in accordance with its best business judgment. To the extent, if any, that Pensxx accepts from Correspondent orders for execution in accordance with Section 7(a), Correspondent shall be responsible for informing Pensxx xx the location of the securities that are the subject of the order so that Pensxx xxx comply with the provisions of Art. III, Sec. 21 of the NASD Rules of Fair Practice.
Supervision of Orders and Accounts. Broker is responsible for the conduct of the Accounts, and ensuring that the transactions conducted therein are in compliance with Applicable Regulations. Such responsibility includes, but is not limited to: (i) all “know your customer” requirements and using due diligence to learn and on a continuing basis to know the essential facts of each Customer, including verifying each Customer’s identity and address (including any address changes), knowing all persons holding power of attorney over any Account, verifying the source of funds credited to each Account and being familiar with each order in any Account, and at all times to fully comply with the requirements of NYSE Rule 405 and the 2300 Series of the FINRA Conduct Rules or comparable requirements of any other Applicable Regulations; (ii) selecting, investigating, training, and supervising all of its personnel who open, approve, authorize or otherwise handle transactions in the Accounts; (iii) establishing written procedures for the conduct of the Accounts and ongoing review of all transactions in Accounts, and maintaining compliance and supervisory personnel adequate to implement such procedures; (iv) handling of any discretionary accounts and the furnishing of any investment advice to any customer, including determining the suitability for each Customer of all orders and transactions, including option transactions; (v) ensuring that there is a reasonable basis for all recommendations made to Customers; (vi) determining the appropriateness of the frequency of trading in Accounts; (vii) determining the authorization, legality and compliance with the Applicable Regulations of each transaction in the Account; (viii) handling any accounts for employees or officers of any broker-dealer, SRO or other financial institution, including compliance with FINRA Conduct Rule 3050 and NYSE Rule 407; and (ix) obtaining and maintaining all documents necessary for the performance of Broker’s responsibilities under this Agreement and retaining such documents in accordance with all Applicable Regulations. Broker agrees to obtain from any Customer and send to ConvergEx such additional information as ConvergEx may require to comply with Applicable Regulations.
Supervision of Orders and Accounts. As between FSWC and XXXX, XXXX will be responsible for the review and supervision of, and the suitability of, investments made by every Customer. CLAY shall be responsible for insuring that all transactions in and activities related to all Accounts opened by it with FSWC, including discretionary Accounts, will be in compliance with all applicable laws, rules and regulations of the United States, the several states, governmental agencies, securities exchanges and the NASD, including any laws relating to CLAY’s fiduciary responsibilities to Customers, either under the Employee Retirement Income Security Act of 1974 or otherwise; and in this connection, CLAY shall diligently supervise the activities of its officers, employees and representatives with respect to such Accounts. FSWC will perform the clearing services provided for in this Agreement for Accounts accepted by it in accordance with the terms of this Agreement, as it may be amended from time to time, and otherwise in accordance with its judgment. To the extent, if any, that FSWC accepts from CLAY orders for execution in accordance with Section 7(a), CLAY shall be responsible for informing FSWC of the location of the securities that are the subject of the order so that FSWC may comply with the provisions of Rule 3110 of the Conduct Rules of the NASD.
Supervision of Orders and Accounts
